LIVE MARKET TRACKER :   BSE SENSEX   27458.64      |    NSE NIFTY 8341.40    
GLOBAL MARKETS :  NASDAQ 4891.22   +0.57%    |    FSI London 6855.02   -0.58%    |    NIKKEI Japan 19285.63   -0.95%
  USD GBP EUR CAD AUD INR
USD - 0.6726 0.9185 1.2616 1.2905 62.5370
GBP 1.4882 - 1.3670 1.8775 1.9205 93.0676
EUR 1.0894 0.7328 - 1.3744 1.4059 68.1278
CAD 0.7930 0.5334 0.7284 - 1.0233 49.5892
AUD 0.7754 0.5215 0.7122 0.9782 - 48.4887
INR 0.0160 0.0108 0.0147 0.0202 0.0206 -
Indian-Commodity  :  Corporate  :  Tata Motors embarks on major belt tightening exercise to tide over declining revenues

Tata Motors embarks on major belt tightening exercise to tide over declining revenues (18-Dec-2012)

Anticipating rough road ahead, Tata Motors, country's largest vehicle maker, has embarked upon a major belt tightening exercise, to tackle dwindling demand for its key commercial vehicles business. Towards this development, the company has urged departments to reduce spend and to rationalize travel, stay and even restrict production operations and certain spends on product development.

However, given the seriousness of the current business scenario, the measures are not just limited to Indian operations, but even international subsidiaries like Tata Motors Thailand are undertaking austerity measures to prune down expenses.

Further, even the auto major has embarked upon periodic block closures across plants, due to dwindling demand for heavy and light commercial vehicles across the industry. Plant closures have become a recurring feature, with most factories now functioning on a five-day week, against seven-day week earlier.

Moreover, although reporting intact domestic numbers for the commercial vehicle division, the contribution of Medium and Heavy Commercial Vehicle (M&HC) has been declining. Substitution of M&HCVs by small commercial vehicle segment has mainly hit margins and the cash condition of the company.

Tata Motors registered a 13.43% fall in its total sales (including exports) at 66,500 vehicles for the month of November 2012 as compared to 76,823 units sold during the same month a year ago. The company's sales of commercial vehicles in November 2012 in the domestic market were down by 0.91% at 44,323 vehicles, compared to 44,732 vehicles, sold in November last year, while sales of light commercial vehicle (LCV) for the month under review coming at 34,828 vehicles, stood up by 21.46%, over 28,673  vehicles, sold in the same period last year. Meanwhile, the medium and heavy commercial vehicle sales (M&HCV) fell to 9,495 units (16,064). Cumulative sales of commercial vehicles in the domestic market for the fiscal were at 342,855 units, cumulative LCV sales were at 243,543 and M&HCV at 99,312 units.


Top News Today
Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctions
(27-Mar-2015)

Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctionsThe government after getting a go ahead from the Supreme Court declared the winners of the recently concluded airwaves auction. Now the government can collect initial upfront payment of Rs 28,872 crore......click on news to read complete article.

Cadila Healthcare, Bharti Airtel and Idea Cellular to see some action today
(27-Mar-2015)

Cadila Healthcare, Bharti Airtel and Idea Cellular to see some action todayCadila Healthcare has purchased 50% shares of Zydus BSV Pharma from Bharat Serums and Vaccines and now Zydus BSV has become 100% subsidiary of Cadila Healthcare. Zydus Cadila is an innovative, global pharmaceutical......click on news to read complete article.

Govt to step up public spending on infrastructure, ease entry barriers for overseas investors
(26-Mar-2015)

Govt to step up public spending on infrastructure, ease entry barriers for overseas investorsFinance Minister Arun Jaitley has expressed his concern over slow growth of manufacturing sector and promised to step up public spending on infrastructure, ease entry barriers for overseas investors and......click on news to read complete article.

International Stock News
US markets snap four days losing streak
(28-Mar-2015)

US markets snap four days losing streakSnapping their four days losing streak, the US market closed higher on Friday due to a positive reaction to prepared remarks by Federal Reserve Chair Janet Yellen. In a speech at a San Francisco Fed conference,......click on news to read complete article.

US markets closed lower for fourth straight session
(27-Mar-2015)

US markets closed lower for fourth straight sessionThe US market closed lower on Thursday, declining for the fourth consecutive session, with the benchmark S&P 500 turning negative for the year and recording its longest losing streak since January.......click on news to read complete article.

US markets closed lower; S&P, Dow marks sharpest losses in two weeks
(26-Mar-2015)

US markets closed lower; S&P, Dow marks sharpest losses in two weeksThe US market closed lower on Tuesday, with Nasdaq Composite suffering its steepest decline since April 2014, as investors' dumped technology and biotech shares. The carnage on the Street marks the third......click on news to read complete article.

 

     
  
Recent Corporate News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.