Courtesy: economictimes.indiatimes.com
Archive for March, 2008
Tata Motors to invest Rs 6,000 cr in Pune facilities
Published March 31st, 2008 in Tata Motors. 0 CommentsCourtesy: economictimes.indiatimes.com
M&M to invest Rs 1,500 cr more in Chakan plant
Published March 31st, 2008 in Mahendra&Mahendra. 0 CommentsThe company signed a memorandum of understanding with the Maharashtra Government to this effect. The first MoU on initial investment was inked in January last year. More
Courtesy:economictimes.indiatimes.com
Courtesy: www.indiacar.net
The company R&D team based in Gurgaon, which now comprises 480 engineers, plans to increase this to about 1,000 people by 2010, according to Mr I.V. Rao, Managing Executive Officer, Engineering, Maruti Suzuki India Ltd.
Speaking to Business Line, Mr Rao explained how the company?s India R&D teams have managed to roll out about seven models with design and engineering inputs from India. Read more
Courtesy: www.indiacar.net
On-road price tag for Jaguar & Land Rover runs to $3 bn
Published March 29th, 2008 in Ford India and Tata Motors. 0 CommentsThe final acquisition cost of the iconic Jaguar-Land Rover (JLR) brands by Tata Motors is likely to be about 30% more than the $2.3 billion announced on Wednesday. The $2.3 billion covers just the price of the brands, assets and technology know-how. A big part of the additional cost would go for engine and component supply. A Ford Motor spokesperson confirmed that a separate contractual pact has been signed for engines and components. Read more
Courtesy: economictimes.indiatimes.com
TATA Motor?s credit rating has been downgraded following its acquisition of Jaguar and Land Rover by Crisil. The rating agency has said the deal costs of Rs 9,200 crore and additional capital expenditure of Rs 10,000 crore would weaken the company?s gearing to more than 1.25 times from the current level of 0.6 times. Tata Motors is also expected to raise $1 billion through equity issue over the year, said Crisil. Read more
Courtesy: www.indiacar.net
Tata Motors hopeful of better rating by agencies in few months
Published March 29th, 2008 in Tata Motors. 0 CommentsTata Motors on Saturday said that ratings given to it by agencies would be reviewed in the next few months as its refinancing plan is put into action.
The response has come after rating agency Crisil yesterday downgraded ratings on the auto major’s cash credit facilities from ‘AA+’ to ‘AA-/stable’ and removed them from ‘Rating Watch with Negative Implications’. More
Courtesy: economictimes.indiatimes.com
TATA Motors may dilute its shareholding in Tata Steel to finance the $2.3-billion acquisition of luxury brands Jaguar and Land Rover from Ford Motor Company, say analysts. This follows Tata Motors? announcement two days ago that it had raised a 15-month bridge loan of $3 billion from a syndicate of banks to finance the acquisition. The company said it would mobilise funds through equity-linked instruments, loan-term resources and disinvestment of holdings in some group companies to repay the bridge loan. More
Courtesy: www.indiacar.net
Corporate analysts Wednesday hailed Tata Motors deal with Ford Motor to buy two iconic British auto brands Jaguar and Land Rover as not just a milestone for the Tata group but a historic moment for India. This is a landmark deal and it is a landmark deal for India also,says Deven Malkan, a noted commentator and editor-in-chief of Corporate India magazine.
The deal has all the ingredients of a lion-hearted industrialist. The critics had earlier tried to run down the Corus deal and look at the Tata Steels share price today - it is flourishing,he said. More
Courtesy: www.indiacar.net
Maruti Suzuki Ltd is adding strength to its base of engineers, and expects to triple the number from 300 engineers on board today to 1,000 engineers by 2010. The scale up is with the objective of bringing the Indian company?s engineering skills on par with that of Suzuki. More
Courtesy: www.indiacar.net
