LIVE MARKET TRACKER :   BSE SENSEX   27865.83      |    NSE NIFTY 8322.20    
GLOBAL MARKETS :  NASDAQ 4627.003   +1.33%    |    FSI London 6546.47   +1.28%    |    NIKKEI Japan 16413.76   +4.83%
  USD GBP EUR CAD AUD INR
USD - 0.6252 0.7981 1.1273 1.1363 61.42
GBP 1.5997 - 1.2767 1.8034 1.8178 98.2566
EUR 1.2532 0.7835 - 1.4127 1.424 76.9715
CAD 0.8872 0.5546 0.708 - 1.0081 54.489
AUD 0.8802 0.5503 0.7025 0.9923 - 54.065
INR 0.0163 0.0102 0.013 0.0184 0.0185 -
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
Adani Power, Lanco Infratech, BPCL and Thermax to see some action today
(31-Oct-2014)

Adani Power, Lanco Infratech, BPCL and Thermax to see some action todayThe Competition Commission of India (CCI) has cleared Adani Power's proposed deal with Lanco Infratech to buy latter's 1,200-MW imported coal-fired power plant at Udupi in Karnataka for more than Rs 6,000......click on news to read complete article.

IL&FS Engineering, Kridhan Infra and GMDC to see some action today
(30-Oct-2014)

IL&FS Engineering, Kridhan Infra and GMDC to see some action todayIL&FS Engineering and Construction Company has won contracts from WBSEDCL (West Bengal State Electricity Distribution Company) for construction of Rural Electrification Infrastructure, Erection......click on news to read complete article.

Moody's retain negative outlook on Indian banks on high corporate leverage
(30-Oct-2014)

MoodyIn yet another worrying development for banking sector, international rating agency, Moody's while retaining its negative outlook for the Indian banking sector, has underscored that high leverage in the......click on news to read complete article.

International Stock News
US markets gain on encouraging GDP data
(31-Oct-2014)

US markets gain on encouraging GDP dataThe US markets closed higher on Thursday, as report showed faster-than-estimated growth in gross domestic product, fueling speculation that economy is strong enough to withstand higher interest rates.......click on news to read complete article.

US markets closed lower after Fed ends QE
(30-Oct-2014)

US markets closed lower after Fed ends QEThe US markets closed lower on Wednesday, with Dow Jones Industrial Average snapping a four-day winning streak, after the Federal Reserve made official its plans to end the last round of its recession-era......click on news to read complete article.

US markets climb higher ahead of FOMC meet
(29-Oct-2014)

US markets climb higher ahead of FOMC meetThe US markets rallied on Wednesday, ahead of the Federal Reserve's two-day policy meeting. Federal Reserve officials are widely expected to announce the end to the 2008-era bond-buying stimulus program,......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.