Ratan Tata says willing to return Singur land if compensatedSeptember 1st, 2009 KOLKATA - TATA Group chairman Ratan Tata on Tuesday told a press conference here that the failed NANO plant at Singur had cost him about 500 crore rupees, and he was willing to return the land if the State Government compensated Tata Motors. "We do not want to sit on the land.
Tata Motors posts Rs.329 crore loss in Q1August 31st, 2009 MUMBAI - The high-priced acquisition of Jaguar Land Rover (JLR) and dipping volumes have taken their toll on Tata Motors, which reported a loss of Rs.328.78 crore in the first quarter ended June 30, as compared to a profit of Rs.719.69 crore logged in the same quarter the previous fiscal. The company's consolidated gross revenue for the first quarter of the current fiscal stood at Rs.16,953.63 crore, while it was Rs.15,496.28 crore in the year-ago period.
Suzlon posts net loss of Rs.160 crore in first quarterAugust 1st, 2009 MUMBAI - Wind power major Suzlon posted a net loss of Rs.160.47 crore for the quarter ended June 30, compared to a net profit of Rs.88.04 crore in the same period the previous fiscal. The company logged a total income of Rs.359.32 crore in the first quarter, a decrease of 75 percent from Rs.1,496.28 crore in the year-ago period.
Tata Power's first quarter profit doublesJuly 31st, 2009 NEW DELHI - Tata Power's net profit for the quarter ended June 30 has more than doubled to Rs.396.97 crore ($83 million) as compared to Rs.162.55 crore in the like period last year. The total income has increased marginally to Rs.2,123.2 crore from Rs.2,113.3 crore, the company said in a statement.
Tube Investments seeks partner for Chinese unitJuly 31st, 2009 CHENNAI - Bicycle and engineering product manufacturer Tube Investments (TI) is looking at various options, including tying up with a new company, to save its loss-making Chinese unit. The Chennai-based company, part of the $3-billion Murugappa group, said the Chinese unit, which manufactures steel tubes, posted a net loss of around Rs.8 crore in 2008.
Hinduja Foundries posts Rs.10 crore lossJuly 29th, 2009 CHENNAI - Hinduja Foundries, part of the diversified Hinduja Group, has posted a net loss of Rs.10.44 crore in the quarter ended June 30 as against a profit of Rs.4.57 crore in the like period last year. The company's turnover for the first quarter stood at Rs.67.03 crore as compared to Rs.125.20 crore a year ago, a fall of 46 percent.
Jaguar, Land Rover models launched in IndiaJune 28th, 2009 MUMBAI - Nearly 16 months after acquiring the iconic Jaguar and Land Rover brands, Tata Motors formally launched the luxury cars in India here Sunday. Tata Motors chairman Ratan Tata said initially, three Jaguar and two Land Rover models would be available in the country.
After Nano, Tata launches luxury Jaguar, Land RoverJune 28th, 2009 MUMBAI - Three months after launching Nano, the world's most inexpensive family vehicle at the Rs.1 lakh, Tata Motors Sunday launched here the iconic Jaguar and Land Rover cars, to cost between Rs.63 lakh and Rs.92 lakh in India. Tata Motors chairman Ratan Tata said initially, three Jaguar and two Land Rover models would be available in the country.
Tata Motors launches Jaguar, Land Rover in IndiaJune 28th, 2009 MUMBAI - Tata Motors, one of India's top automobile manufacturers, launched its Jaguar, Land Rover brands in India on Sunday. Addressing a press conference here on the occasion, Ratan Tata, the chairman of the Tata Group, said: "It's quite a memorable day in the history and heritage of Tata Motors...JLR has been well received and well established in India (in the past), but over the years this brand has been disconnected from India."
"I think, the cars will exhibit the levels of technology and levels of performance here.
Tata Steel resets covenants on Corus loanMay 30th, 2009 MUMBAI - Tata Steel has reached an agreement with lenders of Tata Steel UK for resetting the covenants on the 3.7 billion pound loan raised for the acquisition of Anglo-Dutch steel maker Corus. This comes two days after group company Tata Motors announced a revision in the maturity deadline on the bridge loan for its acquisition of Jaguar Land Rover (JLR).
Tata Motors net profit shrinks 50.7 percentMay 29th, 2009 MUMBAI - Auto major Tata motors Friday said its net profit for 2008-09 plummetted 50.7 percent because of "demand contraction". The company in a statement said its annual profit stood at Rs.1,001.26 crore, down from Rs.2,028.92 crore reported in 2007-08.
Prakash Telang new managing director of Tata MotorsMay 29th, 2009 MUMBAI - Auto major Tata Motors has appointed Prakash M. Telang as its managing director, while the incumbent Ravi Kant will continue as non-executive vice chairman, the company said Friday.
Jet posts last quarter profit, though income dipsMay 25th, 2009 NEW DELHI - India's largest private carrier Jet Airways Monday announced a net profit of Rs.52.99 crore for the quarter ending March 31, as compared to a net loss of Rs.221 crore in the corresponding period in 2007-08. The total income of the company, however, decreased to Rs.2,566 crore in the quarter under review, as compared to Rs.2,796 crore posted in the year-ago period, the company said in a regulatory statement.
Ceat posts loss of Rs.16 crore in 2008-09April 29th, 2009 NEW DELHI - Tyre maker Ceat Ltd Wednesday reported a loss of Rs.16.12 crore for the year ended March 31, 2009, even as the company's total income rose by a marginal 8 percent from the year before. In 2007-08, the company had posted a net profit of Rs.148 crore.
Tata Motors wins Rs.22-bn contract for Delhi city busesJanuary 28th, 2009 NEW DELHI - Auto major Tata Motors has bagged a contract worth Rs.22 billion (Rs.2,200 crore) from the Delhi Transport Corp (DTC) to supply 1,625 low-floor buses and maintain them for 12 years, the company announced Thursday. The contract comprises about Rs.9 billion for the supply of buses and Rs.13 billion for their 12-year maintenance, Tata Motors said in a statement.
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