MUMBAI: Tata Elxsi, the visual effects and animation arm of the Tata Group, expects revenues to touch USD 300-400 million (Rs 1,860 crore) from its
global operations over the next three-years, a top company official said.
The software design services firm aims to expand its presence in the US in line with its global growth strategy, which includes opening more studios in high-growth markets.
"We expect to get USD 300-400-million in topline over the next three-years, and we intend to keep doubling it every three years after that," Tata Elxsi Ltd's CEO and Managing Director, Madhukar Dev, told reporters here today.
"We would open more centres in other parts of the world depending on the work-flow coming in from the US and Europe," he added.
Tata Elxsi has a global delivery footprint through offices and centres in India, the US, UK, Japan and Germany.
The Bangalore-headquartered company will open a new visual effects (VFX) studio in Santa Monica, US, next week, in addition to existing studios in Mumbai, Tokyo, and UK.
"We want to cater to the overseas market, especially clients in Hollywood, in a much more substantial manner. The studios in Mumbai and Santa Monica will work in tandem to provide a cost advantage to clients," Dev said.
The company has spent USD 5-million from internal accruals to buy high-quality equipment for servicing the overseas market.
Source:indiatimes.com
Tuesday, December 1, 2009
TABLE-India Tata Motors Nov vehicle sales up 65 pct y/y
MUMBAI, Dec 1 (Reuters) - Tata Motors Ltd (TAMO.BO) (TTM.N) vehicle sales for November.
NOV 2009 NOV 2008 % CHG
TOTAL SALES 54,108 32,696 65
DOMESTIC SALES 50,114 30,556 64
COMMERCIAL VEHICLES 29,408 16,229 81
PASSENGER VEHICLES* 22,671 14,612 55
NANO 3,406 n/a --
EXPORTS 3,994 2,140 87
* Passenger vehicle sales include distribution of Fiat cars by Tata Motors.
NOTE: Tata Motors is India's largest vehicle maker. It owns the luxury Jaguar and Land Rover brands and in July started deliveries of the Nano, the world's cheapest car.
Indian auto makers posted strong annual sales growth in November and analysts said maintaining momentum depended on sustained recovery, a day after India reported surprisingly strong economic growth. [ID:nBOM101517]
Last week, Tata Motors reported a return to operating profit for its British Jaguar Land Rover unit, suggesting cost cuts were beginning to bear fruit and new models were attracting buyers. [ID:nBOM33284] (Reporting by Pratish Narayanan; Editing by John Mair) ((pratish.narayanan@thomsonreuters.com; +91 22 6636 9202; Reuters Messaging: pratish.narayanan.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))
Source:reuters.com
NOV 2009 NOV 2008 % CHG
TOTAL SALES 54,108 32,696 65
DOMESTIC SALES 50,114 30,556 64
COMMERCIAL VEHICLES 29,408 16,229 81
PASSENGER VEHICLES* 22,671 14,612 55
NANO 3,406 n/a --
EXPORTS 3,994 2,140 87
* Passenger vehicle sales include distribution of Fiat cars by Tata Motors.
NOTE: Tata Motors is India's largest vehicle maker. It owns the luxury Jaguar and Land Rover brands and in July started deliveries of the Nano, the world's cheapest car.
Indian auto makers posted strong annual sales growth in November and analysts said maintaining momentum depended on sustained recovery, a day after India reported surprisingly strong economic growth. [ID:nBOM101517]
Last week, Tata Motors reported a return to operating profit for its British Jaguar Land Rover unit, suggesting cost cuts were beginning to bear fruit and new models were attracting buyers. [ID:nBOM33284] (Reporting by Pratish Narayanan; Editing by John Mair) ((pratish.narayanan@thomsonreuters.com; +91 22 6636 9202; Reuters Messaging: pratish.narayanan.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))
Source:reuters.com
Tata Motors plans to launch hybrid business in future
Tata Motors is making headlines this time for a different reason altogether. The company plans to launch hybrid buses for the local market in the coming years, informed Ravi Pisharody, President, Commercial Vehicles. Addressing Environmentally Friendly Vehicles Conference, a company executive informed that the new bus will also encompass of latest technology, and will be well-equipped to run on both battery and diesel.
However, the cost of the hybrid bus is double than that of a normal bus. The bus is so designed that at high speeds it switches over to diesel engine, while with in the city limits hybrid motor propels the bus. According to a researcher at Tata Motors Engineering Research Centre, hybrid buses are the best when it comes to city transportation with endless stops, slow traffic and engines billowing smoke polluting the city. Further, a whole lot of fuel is simply burnt away. This could be avoided in terms of hybrid buses. Unlike conventional buses, hybrid buses during stop-over find time to recharge their batteries. With companies world over busy evolving alternative fuels, Tata motors is busy evaluating the market to find the ideal fuel that would suit their buses and domestic market as well.
The logic behind the high price, Anil Khurana, Director of PRTM Management Consultants explained that since all the motors have to be imported the expense simply gets doubled.
Source:gather.com
However, the cost of the hybrid bus is double than that of a normal bus. The bus is so designed that at high speeds it switches over to diesel engine, while with in the city limits hybrid motor propels the bus. According to a researcher at Tata Motors Engineering Research Centre, hybrid buses are the best when it comes to city transportation with endless stops, slow traffic and engines billowing smoke polluting the city. Further, a whole lot of fuel is simply burnt away. This could be avoided in terms of hybrid buses. Unlike conventional buses, hybrid buses during stop-over find time to recharge their batteries. With companies world over busy evolving alternative fuels, Tata motors is busy evaluating the market to find the ideal fuel that would suit their buses and domestic market as well.
The logic behind the high price, Anil Khurana, Director of PRTM Management Consultants explained that since all the motors have to be imported the expense simply gets doubled.
Source:gather.com
Nifty ends above 5100; Unitech, Tata Motors surge
MUMBAI: Indian markets ended with above psychological resistance levels on Tuesday as robust auto sales figures positive global markets and
better-than-expected GDP figures boosted sentiments. ( Watch )
National Stock Exchange’s Nifty ended at 5122.85, up 90.15 points or 1.79 per cent. The broader index hit a high of 5130.35 and low of 5038.85 in today’s trade.
Bombay Stock Exchange’s Sensex closed at 17199.28, up 273.06 points or 1.61 per cent. The 30-share index touched a high of 17218.46 and low of 16947.46.
BSE Midcap Index was up 1.76 per cent and BSE Smallcap Index moved 2.10 per cent higher.
Amongst the sectoral indices, BSE Realty Index surged 6.38 per cent, BSE Auto Index gained 2.97 per cent and BSE Healthcare Index advanced 2.56 per cent.
Unitech (12.67%), Tata Motors (6.16%), Sun Pharma (6.08%), DLF (5.69%) and Mahindra & Mahindra (4.37%) were amongst the top Nifty gainers.
Hindustan Unilever (-2.02%), GAIL (-1.66%), BHEL (-0.52%), ONGC (-0.41%) and TCS (-0.16%) were amongst the Nifty losers.
Market breadth was positive on the Nifty with 45 gainers and 5 losers.
Source:indiatimes.com
better-than-expected GDP figures boosted sentiments. ( Watch )
National Stock Exchange’s Nifty ended at 5122.85, up 90.15 points or 1.79 per cent. The broader index hit a high of 5130.35 and low of 5038.85 in today’s trade.
Bombay Stock Exchange’s Sensex closed at 17199.28, up 273.06 points or 1.61 per cent. The 30-share index touched a high of 17218.46 and low of 16947.46.
BSE Midcap Index was up 1.76 per cent and BSE Smallcap Index moved 2.10 per cent higher.
Amongst the sectoral indices, BSE Realty Index surged 6.38 per cent, BSE Auto Index gained 2.97 per cent and BSE Healthcare Index advanced 2.56 per cent.
Unitech (12.67%), Tata Motors (6.16%), Sun Pharma (6.08%), DLF (5.69%) and Mahindra & Mahindra (4.37%) were amongst the top Nifty gainers.
Hindustan Unilever (-2.02%), GAIL (-1.66%), BHEL (-0.52%), ONGC (-0.41%) and TCS (-0.16%) were amongst the Nifty losers.
Market breadth was positive on the Nifty with 45 gainers and 5 losers.
Source:indiatimes.com
Tata Motors Nov sales soar 65.5 pc
NEW DELHI: The country's largest auto maker Tata Motors today said its total sales during November zoomed by 65.49 per cent at 54,108 units.
The company had sold 32,696 units in the same month in 2008.
The homegrown auto major's total passenger vehicle sales in the domestic market grew by 44.52 per cent at 20,706 units last month, against 14,327 units in the same month last year, the company said in a statement today.
Its exports jumped by 86.64 per cent at 3,994 units, compared with 2,140 units in the same month last year, it added. The company delivered 3,406 units of the Nano during the month.
The flagship Indica reported sales of 9,111 units, up one per cent over last November, the company said.
The Indigo family recorded its highest ever monthly sales during November at 5,963 units, a growth of 71.5 per cent over the same month last year. The firm attributed the growth to the recent launch of the Indigo Manza.
The premium SUV range Safari and utility model Sumo and accounted for sales of 2,226 units, a rise of 23 per cent compared with November last year.
In the commercial vehicles segment, November sales in the domestic market stood at 29,408 units, compared with 16,229 units sold in the same month last year, up 81.21 per cent.
Source:indiatimes.com
The company had sold 32,696 units in the same month in 2008.
The homegrown auto major's total passenger vehicle sales in the domestic market grew by 44.52 per cent at 20,706 units last month, against 14,327 units in the same month last year, the company said in a statement today.
Its exports jumped by 86.64 per cent at 3,994 units, compared with 2,140 units in the same month last year, it added. The company delivered 3,406 units of the Nano during the month.
The flagship Indica reported sales of 9,111 units, up one per cent over last November, the company said.
The Indigo family recorded its highest ever monthly sales during November at 5,963 units, a growth of 71.5 per cent over the same month last year. The firm attributed the growth to the recent launch of the Indigo Manza.
The premium SUV range Safari and utility model Sumo and accounted for sales of 2,226 units, a rise of 23 per cent compared with November last year.
In the commercial vehicles segment, November sales in the domestic market stood at 29,408 units, compared with 16,229 units sold in the same month last year, up 81.21 per cent.
Source:indiatimes.com
BSE to launch MF platform, ties up with Tata AMC
The Bombay Stock Exchange plans to launch its mutual fund platform, BSE Star MF. It has signed up with Tata Asset Management Company.
This move comes close on the heels of the launch of the National Stock Exchange's Mutual Funds Service System (MFSS) yesterday, which allows NSE brokers to buy and sell mutual fund units. The NSE started trading with 30 schemes of UTI Mutual Fund. On day one, it saw 316 applications worth Rs 78 lakh.
The exchange plans to restructure itself. It plans to raise capital next year and also reduce its reliance on the cash segment.
The BSE, which was founded in 1875, has seen its market share dwindle against NSE over the past few years. In 2009, the daily average turnover on the NSE was three times that of the BSE.
Source:moneycontrol.com
Tata Motors Turns Profitable - Analyst Blog
Tata Motors (TTM) returned to profitability in the second quarter of its fiscal year ended Sept. 30, 2009, helped by aggressive cost reduction measures and recovery of sales of its Jaguar and Land Rover brands in the U.K. The company posted a net income of Rs.217.8 million ($4.7 million), in sharp contrast to a loss of Rs.9.4 billion ($201.7 million) during the second quarter of last year.
Sales volume (including exports) for the quarter grew 17.4% to 158,575 vehicles. Despite this, revenue declined by 9% (8% in dollars) to Rs.218.1 billion ($4.7 billion) due to continued slowdown in prime markets and volatility of exchange rates adversely affecting the company’s exports of commercial vehicles and passenger vehicles.
Jaguar and Land Rover -- acquired by Tata from Ford Motor (F) last year -- went through massive restructuring programs after its acquisition. Last year, the company has cut about 2,500 jobs in the division. It has also frozen pay and canceled bonuses. Further, in September, the company announced it would close one of its factories in England.
These have led Jaguar and Land Rover to post an operating profit of £41.29 million ($68 million), supported by 23% growth of wholesale volumes over the previous quarter and aggressive cost reduction efforts. The new products launched in the division were the upgraded Range Rover, Range Rover Sport and Discovery 4.
Tata Motors is an Indian auto giant which designs, develops, manufactures and sells a range of automotive vehicles. It offers passenger cars, light commercial vehicles, engines for industrial and marine applications; construction equipment as well as provides engineering solutions and software consultancy and services.
Further, Tata engages in automotive vehicle components manufacturing and supply chain activities, machine tools and factory automation solutions, high-precision tooling, plastic and electronic components for automotive and computer applications and automotive retailing and service operations. The company also provides financing for its vehicles. Its products are marketed in Africa, Australia, Europe, the Middle East, Southeast Asia and South
Source:benzinga.com
Sales volume (including exports) for the quarter grew 17.4% to 158,575 vehicles. Despite this, revenue declined by 9% (8% in dollars) to Rs.218.1 billion ($4.7 billion) due to continued slowdown in prime markets and volatility of exchange rates adversely affecting the company’s exports of commercial vehicles and passenger vehicles.
Jaguar and Land Rover -- acquired by Tata from Ford Motor (F) last year -- went through massive restructuring programs after its acquisition. Last year, the company has cut about 2,500 jobs in the division. It has also frozen pay and canceled bonuses. Further, in September, the company announced it would close one of its factories in England.
These have led Jaguar and Land Rover to post an operating profit of £41.29 million ($68 million), supported by 23% growth of wholesale volumes over the previous quarter and aggressive cost reduction efforts. The new products launched in the division were the upgraded Range Rover, Range Rover Sport and Discovery 4.
Tata Motors is an Indian auto giant which designs, develops, manufactures and sells a range of automotive vehicles. It offers passenger cars, light commercial vehicles, engines for industrial and marine applications; construction equipment as well as provides engineering solutions and software consultancy and services.
Further, Tata engages in automotive vehicle components manufacturing and supply chain activities, machine tools and factory automation solutions, high-precision tooling, plastic and electronic components for automotive and computer applications and automotive retailing and service operations. The company also provides financing for its vehicles. Its products are marketed in Africa, Australia, Europe, the Middle East, Southeast Asia and South
Source:benzinga.com
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