Tata Motors up 1% on winning orders worth Rs 225 cr

Tata Motors up nearly 1% in otherwise subdued market after the company wins an order for 1,314 trucks from Surat-based Siddhi Vinayak Logistics. The order book value is estimated at around Rs 225 crore.

SVLL specialises in transportation by road of steel, cement and chemicals, apart from providing third party logistics. "We have placed our largest order for trucks so far with Tata Motors of around 1,314 M&HCV trucks. Tata Motors had last year fulfilled its order commitments of 1,111 trucks by March 31, 2012. The value of the order should be around Rs 225 crore," said RC Baid, founder and chief mentor of SVLL.

Without divulging many details, a Tata Motors Limited spokesperson confirmed, "SVLL has indeed placed an order of 1,314 trucks with us."

In the intraday deal, the stock opened at Rs 268 and made a high of Rs 277. Around 4,81,639 shares were traded in BSE.