Tata Motors, India's biggest automobile company, said on Wednesday that it is desirous of offering the fifth series of its rated, listed, unsecured, redeemable, NCDs (non-convertible debentures) aggregating to Rs 500 crore.
New road projects, pickup in construction activities and a revival of mining have led to sustained high growth for tipper trucks across key markets even as overall demand for commercial vehicles has taken a hit in recent months.
Tata Motors is betting on higher demand for tippers to offset lower demand for cargo vehicles and expects commercial vehicles sales to grow 10-15 per cent in FY17 despite falling sales in last three months.
The National Green Tribunal (NGT) on Wednesday has allowed Tata Motors and other automakers (and automotive societies) to file applications on September 27 seeking clarifications on previous orders of the tribunal regarding the scrapping of diesel
Tata Motors has bagged orders worth Rs 900 crore for over 5,000 buses from various state and city transport undertakings in the first five months of the financial year. The numbers mark a sharp 80% jump in order book over last year.
Shares of automobiles companies including auto ancillaries and tyre firms are on a roll with the Nifty Auto index and S&P BSE Auto index hitting their respective new highs on the bourses amid robust sales in August.
The commercial vehicle industry, an unintended victim of the 2,000cc diesel vehicle ban in the national capital region (NCR), remain a victim while the car makers (for whom the order was meant) have started sales after agreeing to pay one per cent cess.
A procession of around 100 people, mostly women and children with their foreheads smeared with green gulal, proceeds through the narrow alleys of Beraberi in Singur with a placard of Mamata Banerjee and the sound of conch shells fills the air.