MUMBAI, Dec 9 (Reuters) – Shares in India’s largest vehicle
maker, Tata Motors Ltd <TAMO.BO>, have more than quadrupled
this year riding a pick-up in sales on the back of a recovering
The rally, which has made the stock the top performer in a
benchmark BSE index <.BSESN> up more than three-quarters in
2009, was also powered by turnaround in the company’s UK-based
marquee brands Jaguar Land Rover (JLR).
MUMBAI, Nov 30 (Reuters) – Europe’s second-biggest carmaker
PSA Peugeot Citroen <PEUP.PA> is exploring various entry routes
into the Indian automobile market but has not yet taken a
decision, a spokesman for the group said on Monday.
“We are currently assessing the opportunities offered by
the India market and the way to enter this market, but we have
not taken any decision yet,” Laurent Cicolella told Reuters by
telephone from France.
MUMBAI (Reuters) – Tata Consultancy Services <TCS.BO>, India’s top outsourcing company, said on Monday it does not expect volume growth in the December quarter to match the September quarter as firms are still deciding on IT budgets.
“As far as this quarter is concerned, it will certainly be a growth quarter. But we don’t believe it will be same growth, in terms of volume, as the previous quarter,” Chief Financial Officer S. Mahalingam told the Reuters India Investment Summit.
MUMBAI, Nov 5 (Reuters) – French software firm Dassault Systemes <DAST.PA> is seeing some early signs of revival after branching into new areas but it will not lead to business growth this year, its chief executive officer said on Thursday.
The global downturn in the auto and heavy industries sector had forced the technology firm to diversify into energy, pharmaceuticals, consumer goods and electronics, Bernard Charles told Reuters in an interview.
MUMBAI, Oct 29 (Reuters) – India’s Mahindra & Mahindra Ltd
<MAHM.BO> on Thursday said quarterly net profit nearly trebled
helped by cost cuts and strong sales but a weak monsoon and
rising input costs could hurt going forward.
The strong results sent its shares up as much as 5.6
percent on the day. At 0930 GMT the shares were up 4.5 percent
at 933 rupees ($19.7)
MUMBAI/PARIS (Reuters) – Renault’s falling sales in India and Russia and tension with its partners underline the risks of car sector tie-ups and suggest that the infusion of technology, rather than cash, is the solution.
Consolidation is playing a part as automakers seek critical mass to help them back on to their feet after the crisis of the past year, with technology partnerships, in particular, driven by a push toward zero emissions.
MUMBAI, Oct 26 (Reuters) – Tata Motors Ltd <TAMO.BO>,
India’s largest vehicle maker said rising input costs would put
its margins under pressure after it beat forecasts with a
second-quarter profit of more than double over last year.
Higher volumes and sale prices, lower raw material costs,
cost cuts and a lower foreign-exchange loss all helped boost its
profit on vehicles sold in India and offset interest charges,
which were up nearly 50 percent from a year earlier.
MUMBAI (Reuters) – Tata Motors Ltd <TAMO.BO>, India’s largest vehicle maker, beat forecasts as profits more-than- doubled on improved margins due to lower input prices and a recovery in demand as the financial crisis loosened its grip.
The recovery was also aided by lower foreign exchange loss of 150 million rupees compared with 2.45 billion rupees a year ago.
MUMBAI, Oct 22 (Reuters) – Higher passenger car sales in
the quarter ended September is likely to boost Maruti Suzuki
India <MRTI.BO> earnings, while India’s Tata Motors <TAMO.BO>
will benefit from a recovery in truck sales, say analysts.
India’s top carmaker Maruti Suzuki is likely to report an
86 percent rise in quarterly profit to 5.5 billion rupees from
a year earlier driven by higher compact car sales, especially
exports of its A-Star hatchback.[ID:nBOM501130]
MUMBAI, Oct 13 (Reuters) – India’s United Spirits
<UNSP.BO>, is set to sell new shares worth about $300-350
million to institutions to help cut its debt, after efforts to
sell a stake to private equity firms and Diageo <DGE.L> failed.
The world’s third-largest spirits maker by volume is set to
place the shares with institutions (QIPs) as early as this
week, three sources with direct knowledge of the deal said.