Report Wire

Tag: tata motors latest news

  • Tata Motors shares prolong fall; inventory dips over 3 per cent

    Tata Motors share worth: Shares of Tata Motors prolonged their losses and slipped over 3 per cent in early commerce on Wednesday.
    The inventory dipped as a lot as 3.36 per cent every to Rs 306.30 apiece on the BSE and Rs 306.25 on the National Stock Exchange (NSE) through the early morning commerce on Wednesday.
    At 11:42 am, Tata Motors inventory was at Rs 312.00, down Rs 4.95 (1.56 per cent) on the BSE and at Rs 312.20, down Rs 4.70 (1.48 per cent) on NSE. Over 41.74 lakh shares had been traded on the BSE to this point within the intraday commerce whereas over 5.95 crore shares exchanged fingers on NSE.
    On Tuesday, Tata Motors scrip had gone right into a tailspin erasing early good points and crashed over 8 per cent decrease on each the exchanges triggered by a selloff in direction of the top of the commerce session.
    The automaker’s UK subsidiary Jaguar Land Rover (JLR) on Tuesday reported a 68.1 per cent year-on-year rise in retail gross sales for the quarter ended June 2021 at 124,537 models. It had retailed 74,067 models within the April-June quarter final yr.

    Wholesales had been up 72.6 per cent on-year at 84,442 models (excluding China JV). However, wholesales had been round 30,000 models decrease than demand would have permitted attributable to semiconductor provide constraints and impacts of Covid-19 affecting the worldwide auto trade, JLR mentioned in its assertion.
    “Looking ahead, the chip shortage is presently very dynamic and difficult to forecast,” the assertion mentioned including that primarily based on the latest inputs from suppliers, JLR now expects chip provide shortages within the second quarter ended September 2021, to be higher than within the first quarter, probably leading to wholesale volumes about 50 per cent decrease than deliberate.
    “We expect the situation will start to improve in the second half of our financial year. However, the broader underlying structural capacity issues will only be resolved as supplier investment in new capacities comes online over the next 12-18 months and so we expect some level of shortages will continue through to the end of the year and beyond,” the JLR assertion famous.

    “While the present supply constraints continue, the company will continue to prioritise production of higher-margin vehicles for the chip supply available as well as make chip and product specification changes wherever possible to reduce the impact,” it mentioned.
    “In the scenario above, we expect an operating cash outflow of about £1 billion with a negative EBIT (earnings before interest and taxes) margin in the second quarter and a substantial improvement in underlying* operating cash flow in the second half of the financial year as chip supply improves,” the automaker mentioned.

  • Tata Motors ties up with personal lenders for industrial autos financing

    Homegrown auto main Tata Motors on Monday stated it has entered into partnerships with main personal banks, together with HDFC Bank, ICICI Bank and Yes Bank, to fund its industrial autos.
    The tie-ups intention to boost worth choices for purchasers of each new in addition to pre-owned autos all through the client lifecycle, Tata Motors stated in a press release.
    The choices arising out of those tie-ups will embody ancillary monetary provisions similar to gas financing, working capital financing, mixture financing and repair price financing. It will allow prospects to avail engaging monetary schemes from all of the associate financiers with minimal formalities, it added.
    The different personal banks embody Equitas Small Finance Bank, AU Small Finance Bank, Union Bank of India and Punjab National Bank. NBFCs similar to Cholamandalam Investment and Finance Co Ltd, HDB Financial Services, and Sundaram Finance are additionally a part of the tie-ups.
    “Our partnership will definitely add worth and leverage our frequent strengths to satisfy the ever-evolving wants of our prospects.
    “We are confident of an increased reach in customer categories, product segments and geographies and hope that this will help us serve our customers in an efficient and delightful manner in the future as well,” stated Tata Motors Vice-President (Sales and Marketing, and Commercial Vehicles Business Unit) Rajesh Kaul.
    Tata Motors stated its BS-VI choices have garnered “an overwhelming response in the market, with the fleet owners appreciating the lowered total cost of ownership of the vehicles”.

    It added that within the wake of such enthusiasm, these monetary choices promise prospects quick access to monetary schemes from main banks within the nation for the acquisition and financing of the autos and providers.
    Some of those financing options will goal massive company and particular person prospects with massive fleets within the medium and heavy industrial car (M&HCV) house, with engaging choices by way of price and top quality of service, the corporate stated.

    It added that some others will cater to small industrial car (SCV) prospects in semi-urban and rural places, with particular choices devoted to the purchasers of pick-up, the Tata Yodha.