Tata Motors plans to acquire Japan`s Sumitomo Corp`s 53.5 percent stake in truck and bus maker Swaraj Mazda in a deal worth up to USD 54 million to boost its commercial vehicles business, a financial daily reported on Thursday.
Indian conglomerate Tata Group has rejected a 10 million pound British government loan, which was supposed to be used for developing an electric version of one of its existing models, says a media report.
Tata Motors, India`s top vehicle maker, on Friday posted an unexpected September quarter consolidated net profit, aided by investment returns and strong volume growth from its British Jaguar Land Rover unit.
The Supreme Court has issued notices to 23 states and three UTs on a petition by Tata Motors seeking quashing of a decision asking it to pay Central Sales Tax to the tune of around Rs 14 cr on sale of bus chassis to the AP govt.
Home-grown automobiles major Tata
Motors on Monday reported a 34 per cent jump at 53,404 units in
sales of its commercial and passenger vehicles in October as
compared to 39,729 units in the same period last year.
Tata Motors` net profit for the quarter ended September 30 grew by 110 percent to Rs 729.14 crore on the back of cut in forex losses, improvement in operating margin and gain out of selling shares in Tata Steel.