Tata Motors gains on acquisition in Proteas country
Tata Motors rose 1.32% to Rs 827, on reports that it had acquired a truck making facility in South Africa.
As many as 83,772 shares were traded on the BSE.The counter has been south-bound since mid-October 2006. From a high of Rs 911.75 on 10 October, it dropped 11.69% to Rs 816.25 by 6 November 2006. During this period, the BSE Sensex rose 6.65%, to 13,186.89 on 6 November, from 12,363.77 on 10 October 2006.
During the same period, the BSE Auto Index dropped 2.35% to 5,373.04 on 6 November, from 5,502.50 on 10 October.At the current market price of Rs 827, Tata Motors trades at 19.32 times its half-yearly September 2006 annualized EPS of Rs 42.80.
As per reports, Tata Motors has reported a total sale of 43,540 vehicles for October, a growth of 5.6% over sales of 41,219 vehicles in October last year. Cumulative sales for the fiscal registered a 31% growth at 3,09,599 vehicles.
The sales figures of commercial vehicles in the domestic market stood at 23,354, an increase of 18.6% over October 2005 figures. Medium & heavy commercial vehicle sales grew 14.4% in October. Light commercial vehicle sales registered a 24.3% growth.
Earlier, Tata Motors hiked prices of its commercial vehicles (CV) up to 2%, from 1 October 2006. The company had hiked prices to pass on the increase key raw material costs like steel and tyres (rubber).
Further, Tata Motors launched its passenger vehicles in Ghana. The models introduced include the Indica hatchback, the Indigo sedan, the Indigo Station Wagon, the Sumo and the Safari Dicor. Tata Motors already has a presence in Ghana, having launched its commercial vehicles in 1974.
Tata Motors had planned to raise $300 million in October through external commercial borrowings by end-March 2007 to fund expansion plans, which include the much-awaited Rs 1-lakh car project in West Bengal. Of the required 970 acres, the government has acquired 800 acres for the project, to turn over to the Tata group. A temporary bank has been established at the site to settle land compensation payable to small farmers.
Further, the West Bengal government has assured that Tata Motors will be able to start its small car project by this year, at Singur in Hooghly district.
Tata Motors posted a net profit growth of 31% to Rs 441.55 crore (Rs 337.87 crore) for Q2 September 2006. Net sales rose 37% to Rs 6,571.79 crore from Rs 4,788.18 crore.
As many as 83,772 shares were traded on the BSE.The counter has been south-bound since mid-October 2006. From a high of Rs 911.75 on 10 October, it dropped 11.69% to Rs 816.25 by 6 November 2006. During this period, the BSE Sensex rose 6.65%, to 13,186.89 on 6 November, from 12,363.77 on 10 October 2006.
During the same period, the BSE Auto Index dropped 2.35% to 5,373.04 on 6 November, from 5,502.50 on 10 October.At the current market price of Rs 827, Tata Motors trades at 19.32 times its half-yearly September 2006 annualized EPS of Rs 42.80.
As per reports, Tata Motors has reported a total sale of 43,540 vehicles for October, a growth of 5.6% over sales of 41,219 vehicles in October last year. Cumulative sales for the fiscal registered a 31% growth at 3,09,599 vehicles.
The sales figures of commercial vehicles in the domestic market stood at 23,354, an increase of 18.6% over October 2005 figures. Medium & heavy commercial vehicle sales grew 14.4% in October. Light commercial vehicle sales registered a 24.3% growth.
Earlier, Tata Motors hiked prices of its commercial vehicles (CV) up to 2%, from 1 October 2006. The company had hiked prices to pass on the increase key raw material costs like steel and tyres (rubber).
Further, Tata Motors launched its passenger vehicles in Ghana. The models introduced include the Indica hatchback, the Indigo sedan, the Indigo Station Wagon, the Sumo and the Safari Dicor. Tata Motors already has a presence in Ghana, having launched its commercial vehicles in 1974.
Tata Motors had planned to raise $300 million in October through external commercial borrowings by end-March 2007 to fund expansion plans, which include the much-awaited Rs 1-lakh car project in West Bengal. Of the required 970 acres, the government has acquired 800 acres for the project, to turn over to the Tata group. A temporary bank has been established at the site to settle land compensation payable to small farmers.
Further, the West Bengal government has assured that Tata Motors will be able to start its small car project by this year, at Singur in Hooghly district.
Tata Motors posted a net profit growth of 31% to Rs 441.55 crore (Rs 337.87 crore) for Q2 September 2006. Net sales rose 37% to Rs 6,571.79 crore from Rs 4,788.18 crore.
posted by SY at 5:47 PM
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