Tata Motors rose 2.88% to Rs 385.40 at 12:00 IST on BSE after the company unveiled its first indigenously-developed petrol engine for passenger vehicles.
The company made the announcement after market hours on Monday, 20 January 2014.
Meanwhile, the BSE Sensex was down 8.16 points, or 0.04%, to 21,196.89.
On BSE, so far 4.72 lakh shares were traded in the counter, compared with an average volume of 7.61 lakh shares in the past one quarter.
The stock hit a high of Rs 387.40 and a low of Rs 372.30 so far during the day. The stock hit a record high of Rs 405 on 28 November 2013. The stock hit a 52-week low of Rs 252.10 on 5 April 2013.
The stock had underperformed the market over the past one month till 20 January 2014, rising 0.42% compared with the Sensex's 0.59% rise. The scrip had also underperformed the market in past one quarter, falling 1.08% as against Sensex's 1.54% rise.
The large-cap company has an equity capital of Rs 643.72 crore. Face value per share is Rs 2.
Tata Motors announced the launch of the REVOTRON Series -- the next generation petrol engine family that will power its future models in the passenger vehicle market. The company unveiled the first petrol engine from its REVOTRON series - the Turbocharged Intercooled Multi-point Fuel Injected (MPFi) Petrol Engine, REVOTRON 1.2T. Tata Motors said that the REVOTRON Series has been designed based on extensive feedback from car owners, car enthusiasts and expert drivers from across the globe; observing their driving habits followed by extensive testing in gruelling climatic conditions in India as well as in countries like the UK and Korea.
The REVOTRON Series has been developed by Tata Motors with inputs from renowned global players in the area of combustion, boosting, friction and calibration, to deliver class-leading performance, the company said in a statement. Tata Motors also worked closely with global engine consultant AVL (Austria) and key technology partners like Bosch, Honeywell, Mahle and INA to bring in the latest technology for the new engine series. REVOTRON 1.2T has been tested for global standards along with a testing car by TEnergy of Korea to ensure that the engine performance is best-in-class, Tata Motors said. The engine has been manufactured to be light on weight and low on friction, delivering high performance and fuel economy. The REVOTRON series will include 3-and 4-cylinder petrol engines to offer superior performance as well as high fuel efficiency to our customers, Tata Motors said.
Announcing the launch, Mr. Ranjit Yadav, President, Passenger Vehicle Business Unit, Tata Motors said: "With the launch of REVOTRON 1.2T, Tata Motors passenger vehicles business is making a strategic shift towards a more complete portfolio. The name itself, an amalgamation of Revolution and the French word "tronel", meaning "balance", conveys the essence of this engine brand that uses key technological advances to revolutionize and balance great driving manoeuvrability, without compromising on power or fuel efficiency. We are enhancing our portfolio with the next generation petrol engines - REVOTRON series".
The REVOTRON 1.2T has been engineered to deliver optimum balance of power, performance and fuel economy, Tata Motors said. Developed using a range of eco-friendly and future-oriented technologies, the next-generation petrol engine incorporates latest know-how like multi-drive modes, allowing the best of economy and driving pleasure. The Advance Engine Management Systems (AMS) provides a digitally precise control for vehicle performance and emissions and offers the design of reciprocating components to ensure the best out of every drop of fuel. With enhanced customer benefits for the best driving experience, the REVOTRON series is therefore positioned to be a revolution in Performance, Refinement and Economy, the three pillars of the REVOTRON series, Tata Motors said.
Tata Motors' British luxury car unit Jaguar Land Rover (JLR) delivered its strongest ever full year global sales performance due to the introduction of a series of multi-award winning new vehicles in 2013. Full year retail sales rose 19% to 425,006 units in 2013 over in 2012, with strong growth in all major regions and new Jaguar Land Rover records set in 38 markets, including Russia, Brazil, Korea and Canada.
On 2 January 2014, Tata Motors had reported 42.28% decline in its total vehicle sales at 37,852 units in December 2013 over December 2012.
Tata Motors' consolidated net profit surged 70.7% to Rs 3542 crore on 31.1% rise in revenues to Rs 56882 crore in Q2 September 2013 over Q2 September 2012.
Tata Motors is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fifth largest truck manufacturer and fourth largest bus manufacturer.
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