Analysts remain positive on the auto sector given the expectation of double digit volume growth coupled with benign commodity price outlook leading to healthy margin recovery.
Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower
Stocks to watch today: In a 413-page document, Adani retaliated against the American short-seller, saying the document was a "malicious combination of selective misinformation and concealed facts"
Tata Motors on Friday said it will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2 per cent on a weighted average basis from February 1. The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, and is hence passing on some portion through this hike, the auto major said in a statement. Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model, it added. The company sells various models like Nexon, Harrier, Safari and Punch in the domestic market.
Closing Bell: Adani Enterprises and Adani Ports were the leading Nifty losers, which ended 18 and 15 per cent lower, respectively. SBI, ICICI Bank, IndusInd Bank were next in line sinking up to 5%
Tata Motors will benefit from a macro recovery in India, company-specific volume/margin drivers, and a sharp improvement in FCF and leverage in both JLR and India ops, Motilal Oswal said in a note.
Stocks to Watch: Adani Enterprises FPO and Earthstahl & Alloys IPO opens for subscription on Friday. Shares of Adani Group companies also likely to be in focus amid the Hindenburg controversy.
Strong order book, improved chip supply and softening commodity prices major factors
The total income in the December quarter of FY23 stood at Rs 15,967.16 crore, up 27.82 per cent from Rs 12,491.52 crore YoY
Stock market LIVE: As per rollover data, the Nifty index has, so far, witnessed rollover in-line with the last three months' averages. However, slight declines in roll cost indicates a capped upside
Stocks to Watch: Bajaj Auto, Cipla, Dr.Reddy's, Tata Elxsi and Tata Motors are some of the prominent companies to announce Q3 results on Wednesday.
Tata Motors joins growing list of domestic firms to delist ADR programme
Tata Motors Q3 preview: The company, which is scheduled to report its earnings on Wednesday, January 25, could see margin expansion on the back of operating leverage benefits, and fall in input costs
Tata Motors and its wholly-owned subsidiary JLR to report December quarter results on Wednesday, January 25, 2023.
Tata Motors sells over 50 per cent of all the medium and heavy trucks in the country yet its margins have remained thin
Tata Motors on Monday said the voluntary delisting of its American Depositary Shares, representing ordinary shares, from the New York Stock Exchange will become effective close of trading on January 23, 2023. After Monday, there will be no over-the-counter market trading of the American Depositary Shares (ADSs) in the US due to regulatory restrictions under the Indian law, Tata Motors said in a regulatory filing. The ADS holders can surrender their ADSs to the Depositary in exchange for the underlying ordinary shares of the company at any time on or prior to July 24, 2023, it added. Starting on or about July 25, 2023, the Depositary may sell the then remaining ordinary shares held on deposit upon the terms described in the notice of termination of ADS facility as provided for in the deposit agreement, it said. "The above action has no impact on the current listing status or trading of the company's equity shares on the BSE Limited and the National Stock Exchange of India Limited in
Tata Motors on Monday said it has partnered with ICICI Bank to offer financing solutions to its authorised passenger electric vehicle dealers. Under the partnership, ICICI Bank will provide inventory funding to the authorised passenger EV dealers in addition to the bank's funding to dealers for diesel and petrol models, Tata Motors said in a statement. "Our dealer network forms a part of our core support pillars, and through their constant effort, we ride the electrification wave in India. "We are confident that through this tie-up, we will make EVs more accessible and the EV purchase process a seamless and memorable experience for our customers," Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said. The EV dealers can avail flexible repayment tenures through the partnership, the company said. ICICI Bank Executive Director Rakesh Jha said the electric vehicle industry is growing at a rapid pace with the rising consumer
Homegrown manufacturers Tata Motors Ltd. and Mahindra & Mahindra Ltd. are now jostling with Chinese giants BYD Co. and SAIC Motor Corp
He had joined Tata Motors as Head of Premier Car Division and led the launch of Jaguar and Land Rover in India in 2009
Auto Expo 2023 was led by the automakers such as Maruti Suzuki, Hyundai, Tata Motors, Kia India, Toyota Kirloskar, and MG Motor India