Tata Motors reported a 30 per cent year-on-year (YoY) growth in revenues while operating profit saw a 35 per cent jump
CLOSING BELL: Hero MotoCorp, HDFC Bank, Kotak Bank, ONGC, Bharti Airtel, and Dr Reddy's Labs, meanwhile, eked out gains up to 2.6 per cent
Within the auto sector, TVS Motors has soared 79 per cent far this year. Mahindra & Mahindra and Eicher Motors were the other major gainers.
Improving chip supply and cooling commodity prices will aid revenue and margins recovery and hence aim to deliver strong improvements in EBIT and free cash flows in H2 FY23, the company said.
Stocks to watch today: Adani Green, Zomato, Eicher Motors will report the July-September (Q2FY23) results on Thursday, November 10; Bharat Forge's subsidiary bagged export order worth $155.5 million
The move will help simplify the company's financial reporting requirements and reduce administrative costs, it said
Tata Motors's stock remains listed on the BSE and the National Stock Exchange of India
India's Tata Motors Ltd on Wednesday posted a smaller quarterly loss on improved sales volumes led by increased demand for its cars
CLOSING BELL: The Nifty50, meanwhile, shut shop at 18,157, down 46 points or 0.25 per cent
Stocks to watch today: Tata Motors, Pidilite Industries will report the July-September quarter (Q2FY23) results on Wednesday, November 9; Coal India saw 102 per cent jump in net profit to Rs 6,044 cr
The firm which entered EV market in 2020, is now focusing on a three-phased architecture approach for such vehicles and plans to launch 10 EVs in five years
Shareholding by Life Insurance Corporation (LIC) in Tata Motors Ltd has crossed 5 per cent as the insurer stepped up shareholding over the past ten months, investing Rs 11.39 crore in the auto company. LIC said its shareholding in Tata Motors Ltd has increased from 16,59,48,741 to 16,61,98,741 equity shares increasing its shareholding from 4.997 per cent to 5.004 per cent of the paid-up capital of the company, the insurer said in a regulatory filing on Tuesday. "Holding in the company has crossed 5 per cent on October 31, 2022," LIC said. The acquisition of shares were done during the period from December 3, 2021 to October 31, 2022 at an average cost of Rs 455.69. As per regulatory norms, listed companies are required to inform stock exchanges when their shareholding in a company crosses 5 per cent. Tata Motors has a market capitalisation of Rs 1.38 lakh crore. Stock of LIC closed at Rs 605.30 apiece on BSE, up by 0.22 per cent from previous close. Tata Motors scrip ended at Rs .
Tata Motors on Tuesday reported a 15.49 per cent rise in total sales at 78,335 units in October 2022. The company had sold a total of 67,829 units in the same month last year, Tata Motors said in a statement. Total domestic sales were at 76,537 units as against 65,151 units in the year-ago month, a growth of 17 per cent, it added. Passenger vehicle (PV) sales, including electric vehicles, in the domestic market were at 45,423 units as compared to 34,155 units in the same month last year, up 33 per cent. Exports of PVs were down 10 per cent at 206 units from 230 units in October 2021. Electric vehicle sales, including international business, were at 4,277 units as against 1,660 units in the same month a year ago, the company said. Sales of commercial vehicles in the domestic market were only marginally higher at 31,320 units as compared to 31,226 units in the year-ago month, while exports were down 35 per cent at 1,592 units as against 2,448 per cent in October 2021.
Driving growth is Tata Motors, with 25,795 registrations, against 10,200 last year
On a sunny afternoon just two days before Durga Puja in 2008, then Tata Group Chairman Ratan Tata had announced to pull out the ambitious Nano small car project from Singur in West Bengal's
CLOSING BELL: HDFC, Nestle India, ITC, RIL, Axis Bank, and Ultratech Cement were the top gainers
Tata Motors on Tuesday said it has received an order for 200 electric buses which will be deployed in Jammu and Srinagar. The Mumbai-based auto major has won the tender of 200 electric buses floated by Jammu Smart City Ltd, it said in a statement. The automaker will supply 150 units of 9-metre and 50 units of 12-metre Starbus electric buses, it added. As part of the contract, Tata Motors will operate and maintain the buses for a period of 12 years. "Sustainable public transport is the need of the hour, and we are delighted that Tata Motors has got the opportunity to serve the commuters in Jammu & Kashmir," Tata Motors Smart City Mobility Solutions CEO and MD Asim Mukhopadhyay said. Since 2019, Tata Motors' 40 electric buses have been plying in Jammu and Kashmir along with a cumulative supply of 715 electric buses across multiple cities in India.
Easing chip supply, demand for premium models and price hikes at play
Tata Motors on Monday said its website faced temporary glitches as customers rushed in to book its recently introduced electric hatchback Tiago.ev. Bookings for the model commenced on Monday and deliveries are expected to commence from January next year. "We are overwhelmed with the response to the Tiago.ev at our dealerships and on our website. With thousands of customers rushing to book online at the same time, the website slowed down for a bit and is restored. We regret the inconvenience to our customers," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement. All customer enquiries and booking-related concerns are being suitably addressed, he added. The auto major had launched the electric model on September 28 with introductory prices for the first 10,000 customers ranging between Rs 8.49 lakh and Rs 11.79 lakh (ex-showroom). Tiago EV is now the most accessible electric passenger vehicle brand in the country and also the most affordable in the
Following the development, global brokerage JP Morgan downgraded the stock from 'overweight' to 'neutral' with a September 2023 price target of Rs 455.