Tata Motors shares plunged over 10% today as the company reported a 96.22% decline in consolidated net profit for the December quarter. The stock tumbled 10.32% to INR 436.55 on the BSE.
Led by the sharp dip in the stock, the company’s market valuation plummeted by INR 15,067.81 crore to INR 1,25,488.19 crore.
In terms of volume, 36.29 lakh shares of the company were traded on the BSE and over 3 crore shares changed hands on the NSE during the day.
The stock had lost 5% in the previous session as well.
Kotak Securities said in a report, “TAMO reported another weak quarter with both standalone business and JLR performance coming we...
Ashok Leyland Limited (ALL) is eyeing a one-third share of the intermediate commercial vehicles (ICV) market in the country within the next couple of years.
ALL, which is already in the process of expanding its international footprint through establishing manufacturing assembly sites, is also targeting one-third of its total volumes coming from foreign shores in the next five years.
The company has recently launched its ICV, Guru, and is banking on the model to help it garner a one-third market share of the 50,000 units market. It already enjoys a 20% market share in the ICV market, which comprises vehicles in the 7.5 to 15 tonnes range.
Anuj Kathuria, ...
Mahindra & Mahindra (M&M) will invest INR 1,500 crore at its Nasik and Igatpuri plants in Maharashtra for the manufacturing of a new product code named U321.
The investment in the Nashik plant will be towards manufacture of vehicles, while that at Igatpuri plant will be for manufacture and supply of engines.
The projects will qualify as ‘Ultra Mega Project’.
Pawan Goenka, Managing Director at Mahindra & Mahindra said that“I am sure that with this expansion, Mahindra will continue to play an integral role in the development of not only the region of Nasik but the entire state of Maharashtra.”...
While the sale of commercial vehicles (CV) started on a positive note, with a growth of about 1% in January, it is expected to close financial year 2017-18 with a decline, due to a slowdown in the replacement demand and weak industrial activity, among the other factors.
The medium and heavy commercial vehicle (MHCV) segment will post a steep decline in volumes in FY18, due to slowing replacement demand, weak industrial activity, rising diesel prices and overcapacity, says India Ratings and Research (India Ratings). CV majors Ashok Leyland and Mahindra did not respond to an email asking for a comment.
The projection comes despite the Union Budget's focus on the...
Ashok Leyland Limited is eyeing a bigger pie of the country’s truck market with the launch of new products under Guru and Partner range.
The launch of the two products has completed ALL (Ashok Leyland Limited) portfolio from two to 49 tonnes.
“The intermediate commercial vehicle segment is one of our key focus areas, to achieve our vision in trucks. With the Guru, Ashok Leyland will further increase its market share in this competitive segment,” said Anuj Kathuria, President - Global Trucks, Ashok Leyland.
Launching the two new products from the ALL stable here on Tuesday, he said: “In a phased manner, these new models will be av...
Ashok Leyland strengthened its overseas presence by opening a new assembly plant in Dhaka in joint collaboration/tie-up with IFAD Autos Limited, Bangladesh. Built over a period of 15 months, the plant is spread over an area of 37 acres.
A company said in a statement, It has a capacity to roll out 600-800 all range of vehicles per month.
Company sources said that IFAD Autos will be investing INR 75 crore, while the investment details of Ashok Leyland was not made public.
The plant is equipped with state-of-the-art manufacturing equipment and assembly lines. It will also be facilitated with a body building and vehicle testing facility which will become fu...
Tata Motors today reported a 1% decline in total sales in January at 46,349 units compared to 47,035 units in the same month last year.
Domestic sales of Tata Motors commercial and passenger vehicles remained flat at 41,428 units in January over the same month of the previous year.
Tata Motors said in a statement sales of passenger vehicles in the domestic market grew 21% to 12,907 units last month on the back of robust sales of hatchback Tiago.
The auto major said that In the commercial vehicles segment, the company’s domestic sales were down 7% at 28,521 units.
Exports during the month declined by 13% at 4,921 units compared with 5,63...
Tata Motors recently hosted its ‘Small Commercial Vehicle Application Expo’ in Mumbai. The company plans to take it to 30 locations pan India.
At the ‘Small Commercial Vehicle Application Expo’ Tata Motors will showcase a range of fully built applications on its popular ACE brand of mini-trucks, with 11 fully built last mile solutions, ranging from Steel Containers, Refrigerated Containers, Insulated Containers, Hoppers, Box Tippers, Water-Tankers and a Cafeteria-on-Wheels.
Showcasing the versatility of the ACE brand, through this expo Tata Motors is targeting new and existing small commercial vehicle customers, giving them an opportunity t...
National Highways Authority of India (NHAI) has disqualified infrastructure major IL&FS for a INR 1,200 crore highway project in Gujarat this month citing "potential conflict of interest".
The company has retired IAS officer R C Sinha as a nonexecutive independent director, who is also the adviser to highways minister Nitin Gadkari.
Sinha holds this honorary post as he does not take any salary, though he has office and staff at his disposal at Transport Bhawan. NHAI also bears expenses on his stay when he is in Delhi.
Officials said that this is the second time that NHAI has disqualified companies on the same ground in less than a year for...
After holding a significant position in the heavy and medium commercial vehicle (HCV) segments, Hinduja Group flagship Ashok Leyland pegs to ramp up its presence in the light and intermediate commercial vehicle segments with the launch of two new models.
Following the successful launch of light commercial vehicle (LCV) 'Dost,' the city-based auto-major unveiled 'GURU' and the first air-conditioned LCV goods vehicle 'PARTNER' here today.
Unveiling GURU and PARTNER in the intermediate and light commercial vehicles, respectively, Ashok Leyland CEO and Managing Director Vinod K Dasari said the company aims to increase the market share in the se...