Stocks to watch on July 26, 2023: Tata Motors announced the cancellation of its DVR shares. Under the scheme, 7 ordinary shares of the company will be issued for every 10 DVR shares
Outlines Rs 38K crore capex for the year
The market value of outstanding Tata Motors DVR is nearly Rs 19,000 crore, while the market value of ordinary shares is Rs 2.12 trillion
The company will issue seven ordinary shares for every 10 'A' ordinary shares, implying a 23% premium on the previous day's closing level of 'A' ordinary shares, Tata Motors said
CLOSING BELL ON JULY 25, 2023: The NSE Nifty ended 8 points higher; Tata Steel and JSW Steel were the major gainers on Tuesday.
The commercial vehicle volumes were lower by 15% over the prior year due to the transition to BS-VI Phase-2
So far this calendar year (CY23), shares of Tata Motors jumped 61 per cent, as against a 9.6 per cent surge in the S&P BSE Sensex
Tata Motors has launched the two latest variants of Altroz - XM and XM(S); both come with a 1.2-litre Revotron petrol engine and will be positioned between the Altroz XE and the XM+
JLR, Tata Motors to be anchor customers of EV battery unit
The Exter comes with many segment-first features which include a voice-enabled sunroof, dashcam, and six airbags across all the variants
CLOSING BELL ON JULY 10, 2023: Reliance alone contributed 302 points to the BSE Sensex as the stock finished 3.8 per cent higher. The NSE Nifty 50 was up 24 points at 19,356 on Monday.
Maruti Suzuki has clarified that it will not get into diesel vehicles and instead focus on developing and introducing CNG and strong hybrid vehicles
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Punch has already hit sales volume of 10k-11k units a month
Wholesale, retail volumes up 30% and 29%, respectively
Tata Motors-owned Jaguar Land Rover on Friday reported 29 per cent rise in retail sales in the first quarter ended June 30 at 1,01,994 units, as compared to the same period a year ago. The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing. Wholesales, excluding those of Chery Jaguar Land Rover China JV, were at 93,253 units in the first quarter, up 30 per cent as compared to the year-ago period. "The order book remained strong with over 1,85,000 client orders at quarter end, reducing from 2,00,000 at March 31, 2023 in line with expectations, as chip and other supply constraints continue to improve," the company said. Range Rover, Range Rover Sport and Defender demand remains particularly strong, representing 76 per cent of the order book, it added.
Based on preliminary cash balances, JLR expects to report positive free cash flow of over £400 million in the June quarter.
The average salary hike at Maruti Suzuki this year is 14-15 per cent
The plant is set to make batteries for Jaguar Land Rover's planned range o fully electric models that are due from 2024.
India saw passenger vehicle sales worth $63 billion in the financial year 2022-23