Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi, <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> on Monday said its board has approved the proposal to demerge the company into two separate listed entities. The commercial vehicles business and its related investments would be housed in one entity while the passenger vehicles businesses including PV (Passenger Vehicle), EV (Electric Vehicle), <keyword id="19916884" type="General" weightage="20" keywordseo="jlr" source="keywords">JLR</keyword> ( Jaguar Land Rover), and its related investments would be part of the other entity, the auto major said in a regulatory filing. The demerger will be implemented through an <keyword id="19901085" type="General" weightage="20" keywordseo="nclt" source="keywords">NCLT</keyword> scheme of arrangement and all shareholders of <keyword id="20320550" type="General" weightage="20" keywordseo="tml" source="keywords">TML</keyword> (<keyword id="20176909" type="General" weightage="20" keywordseo="tata-motors-ltd" source="keywords">Tata Motors Ltd</keyword>) shall continue to have identical shareholding in both the listed entities, it added. Tata Motors shares on Monday ended 0.12 per cent down at Rs 987.20 apiece on the BSE. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-record-11-3-growth-in-february-2024-two-wheelers-record-35-growth/articleshow/108204817.cms">Passenger vehicles record 11.3% growth in February 2024, two-wheelers record 35% growth</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f15-5g-with-6000mah-battery-launched-in-india-starting-at-15999/articleshow/108202302.cms">Samsung Galaxy F15 5G with 6,000mAh battery launched in India starting at ₹15,999</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms">Upcoming smartphones launching in India in March 2024</a>

Tata Motors to demerge biz into two separate listed companies

Tata Motors, India's largest commercial vehicle manufacturer on Friday announced that Bengaluru Metropolitan Transport Corporation (BMTC) has signed a definitive agreement with its fully owned subsidiary, <keyword id="15809114" type="General" weightage="20" keywordseo="TML-Smart-City-Mobility-Solutions" source="Orion">TML Smart City Mobility Solutions</keyword> Ltd. for operation of 921 electric buses in the capital city of Karnataka. As part of the agreement, TML Smart City Mobility Solutions Ltd. will supply, operate and maintain 921 units of 12-metre low-floor electric buses for a period 12 years. Tata Starbus Electric is an indigenously developed vehicle with superior design and best-in-class features for sustainable and comfortable commute. Commenting on the announcement, G. Sathyavathi, IAS, Managing Director, Bengaluru Metropolitan Transport Corporation said: "We are confident that the induction of the zero-emission, eco-friendly buses will benefit all stakeholders and help in curbing air pollution. Tata Motors' vast experience in the electric mobility domain will certainly assist in providing uninterrupted, safe and comfortable commute in the city." Asim Kumar Mukhopadhyay, CEO and MD, TML Smart City Mobility Solutions Limited, said: "It is a momentous occasion for us as we sign the first definitive agreement under the larger CESL tender and are delighted to have partnered with BMTC in their effort to modernise and electrify the public transportation in the city of Bengaluru. We, at Tata Motors, continuously endeavour to develop smart, green and energy efficient mass mobility solutions. We are confident that the electric buses will provide sustainable, safe and comfortable public transportation to the commuters of Bengaluru." Tata Motors' research and development facilities have steadily worked to engineer innovative mobility solutions powered by alternate fuel technology, including battery-electric, hybrid, CNG, LNG and Hydrogen Fuel Cell technology. Till date, Tata Motors has supplied more than 730 electric buses across multiple cities in India, which have cumulatively clocked more than 55 million km, with an uptime of over 95 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/how-indians-have-spent-their-money-on-swiggy-in-2022/slidelist/96285686.cms">Spending ₹75,000 on an order to buying groceries worth ₹16.6 lakh, here’s how Indians used Swiggy in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-electric-scooters-in-india-in-2023/articleshow/96278794.cms">From Suzuki and TVS to Hero Electric: Here are some of the top electric scooters expected to launch in 2023</a>

Tata Motors subsidiary to operate 921 electric buses in B'luru

<keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">Shares</keyword> of <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> slumped 4 per cent on Friday after the Mumbai-based auto major reported an 11 per cent year-on-year dip in total <keyword id="19911652" type="General" weightage="20" keywordseo="sales" source="keywords">sales</keyword> in July. The stock of the company declined 4.09 per cent to trade at Rs 1,097.65 apiece on the National Stock Exchange (NSE). On the BSE, scrip of Tata Motors dropped 3.69 per cent to trade at Rs 1,102.40 per piece. The 30-share BSE Sensex tumbled 767.65 points or 0.94 per cent to trade at 81,099.90, while NSE Nifty fell 206.70 points to 24,804.20. On Thursday, Tata Motors reported an 11 per cent year-on-year dip in total sales at 71,996 units in July. The company had sold 80,633 units in July 2023. Its total domestic sales dipped 11 per cent and stood at 70,161 units last month as against 78,844 units in the year-ago period. The auto major said its consolidated net profit increased 74 per cent to Rs 5,566 crore in the June 2024 quarter, aided by robust performance by Jaguar Land Rover as well as domestic business. It had posted a net profit of Rs 3,203 crore in the April-June quarter of last fiscal. The company's total income increased to Rs 1,09,623 crore for the period under review against Rs 1,03,597 crore in the June quarter in FY24. On a standalone basis, the automaker said its net profit stood at Rs 2,190 crore compared to a net loss of Rs 64 crore in the year-ago period. Total income rose to Rs 18,851 crore in the first quarter of the current fiscal against Rs 16,132 crore in the corresponding period of FY24. Jaguar Land Rover reported a revenue of 7.3 billion pounds, the best first-quarter revenue on record, up 5 per cent versus the June quarter of FY24. The company also said its board has approved the Scheme of Demerger of Tata Motors Ltd (TML) into two separate listed companies. As part of the scheme, TML will demerge its commercial vehicle undertaking, involving the commercial vehicle business (all the assets, liabilities and employees relating to the commercial vehicle business) and all its related investments, into TMLCV. Further, pursuant to the scheme, the existing passenger vehicle business in TMPV, will be merged into TML, the existing listed entity. Upon the scheme becoming effective, both TMLCV and TML will be renamed, resulting in two separate listed entities. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

Tata Motors shares slump 4% on poor sales data

<keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> Limited (TML) on Monday informed that the National Stock Exchange (NSE) that a three-member Arbitral Tribunal has directed the West Bengal government to pay a compensation of Rs 765.78 crore in additional to an interest at the rate of 11 per cent accrued on it since September 2016 as compensation to the company for the closure of its Nano car project in Singur. "In respect of the arbitration proceedings between Tata Motors Limited (TML) and West Bengal Industrial Development Corporation Limited (WBIDC), in relation to TML's claim of compensation from WBIDC under various heads, on account of the loss of capital investments, with regard to the automobile manufacturing facility at Singur (West Bengal), this is to inform that the aforesaid pending Arbitral proceedings before a three-member Arbitral Tribunal has now been finally disposed of by a unanimous Award dated October 30, 2023 in favour of TML," Tata Motors said in an exchange filing. However, according to legal experts, the stategovernmenthas the option of challenging the tribunal order at a higher court. The officials of the WBIDC have claimed that till Monday evening, they have not received any information in this matter. There was no reaction from the ruling Trinamool Congress till the time of filing of this report. To recall, after coming to power with a thumping majority in 2006, the then Buddhadeb Bhattacharjee-led Left Frontgovernmenthad announced the Nano project atSingurbyTML. Accordingly, the work for setting up of thefactorystarted there after the stategovernmentfinished the process of land acquisition for the project. However, the problem started after a small section of the land-owners refused to accept the compensation cheques and started agitating against the land acquisition. The Trinamool Congress led by Mamata Banerjee, the principal opposition party at the time, started a massive agitation atSinguragainst the land acquisition. In face of the agitation, Tata Group Chairman Ratan Tata finally withdrew from Singurand Sanand in Gujarat became the new site for the Nano project. After coming to power in 2011, the first decision of the Mamata Banerjee-led Cabinet was to promulgate a new law for return of land atSingurto all the land-owners. Political observers feel that the development has come as a major setback for the WestBengalgovernmentjust before theBengalGlobal Business Summit, the annual event of the stategovernmentto showcase Bengal as an ideal investment destination. While the Trinamool has remained silent so far over the tribunalorder, the opposition parties have attacked the stategovernmenton the issue. "This is a penalty that the Trinamool Congress will have topayfor ruining the dreams of thousands of educated youth in the state. I wonder how the stategovernment, which is already saddled with huge accumulated debt, willpaythis penalty," said CPI(M) state Secretary and politburo member, Md Salim.

Singur plant row: Tata Motors can recover Rs 766 cr from Bengal govt as compensation

<ul><li>Global ratings agency <keyword id="125045" type="CITY" weightage="20" keywordseo="Fitch-Ratings">Fitch Ratings</keyword> has downgraded <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> with a negative outlook. </li><li>The ratings come in because of Tata Motors Limited’s weak sales in India and the continued sluggish sales from <keyword id="6354362" type="ORGANIZATION" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword>.</li><li>Earlier in June, Moody’s too had downgraded Tata Motors.</li></ul>Another ratings agency has downgraded Tata Motors to ‘BB-’ with a negative outlook. Fitch Ratings has downgraded the automaker as with lesser chances of “TML's profitability and free cash generation in the next two to three years”. Tata Motors is impacted due to its UK-owned subsidiary Jaguar Land Rover, which has become a white elephant for the company. “Uncertainty around an orderly outcome of Brexit negotiations and the evolving global tariffs situation pose risks, in particular to TML's JLR business, which faces a significant level of production-sales mismatch due to concentration of its production base in the UK,” said the report. In addition to JLR related troubles, Tata Motors’ domestic business is also troubled by a general slowdown in the auto market. Tata Motors too has been witnessing a slowdown in its sales in India, as has been the case with the Indian auto market. In June 2019, Tata Motors <a href="https://www.moneycontrol.com/news/business/companies/tata-motors-global-sales-dip-5-in-june-4195251.html">reported </a>a 14% decline in India sales, while a 5% drop was seen in global sales. Cumulatively, Tata Motors sales in the first quarter of 2019-20 fell by 20%. A month back, credit rating agency Moody’s had downgraded Tata Motors with a negative outlook. Tata Motors’ <a href="https://www.moneycontrol.com/news/business/markets/tata-motors-slips-3-on-moodys-downgrade-4122961.html">shares</a> fell 3% after the downgrade. The Fitch Ratings report mentioned that another reason for its downgrade was that “JLR faces elevated risks.” Jaguar Land Rover’s global sales continued to decline in May with the company reporting a 12% dip in <a href="https://www.moneycontrol.com/news/business/jaguar-land-rover-global-sales-dip-12-in-may-4086381.html">May 2019.</a> In June 2019, its sales dropped by 9.6% year-on-year. Brexit, US-China trade war and <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">signs</a> of a slowdown in the global economy could be the reasons for the losses incurred by JLR. China has traditionally been one of the biggest markets for the luxury car. JLR's sales volumes in China too massively by 29% year-on-year in the first quarter of FY20.

Tata Motors downgraded again, thanks to slow India business and ‘elevated risks’ from Jaguar Land Rover

<ul><li><keyword id="9821581" type="COMPANY" weightage="20" keywordseo="tata-motors-chairperson-n-chandrasekaran">Tata Motors Chairperson N Chandrasekaran</keyword> said the company would be debt-free in the next coming three years.</li><li><keyword id="42747" type="COMPANY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> shares saw a sudden spike and climbed up to 5% at 2:10 pm on August 25. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>At the virtual annual general meeting (AGM) today, Tata Motors chairman N Chandrasekaran told shareholders that the company is aiming to become debt-free in the next coming three years. “Currently the TML group has a net automotive debt of ₹48,000 crore, and currently we are deleveraging this business substantially. The target is to bring it to near zero debt levels in the next three years. Towards this, the company has already taken steps. This includes making the company free cash flow positive by FY22,” Chandrasekaran said. The forward-looking outlook boosted shareholders' enthusiasm, and the Tata Motors shares saw a sudden spike and climbed up to 5% at 2:10 pm on August 25. The management also said that its premium business segment JLR would also be cash positive this year onwards. These are the key takeaways from <keyword id="9821580" type="COMPANY" weightage="20" keywordseo="the-tata-motors-agm">the Tata Motors AGM</keyword>: <ul><li>The global auto industry has grappled with many issues in the last 12 months. Then COVID came, which ushered in the new reality and has changed the demand pattern. Indian auto industry too faced several headwinds. Domestic auto sales were down 18%, the most the industry has ever seen since we started recording data. The broad economic slowdown, regulatory challenges like BS6 transition, lockdown measures were a huge challenge</li><li>We have also set a target for the Tata Motors group to generate positive free cash flow from FY22 onwards</li><li>Already the investment of the group has reduced by 50% this FY and will continue to manage this very tightly going forward</li><li>We are also aiming to unlock new non-core investments for <keyword id="154977" type="COMPANY" weightage="20" keywordseo="Tata-Motors-Limited">Tata Motors Limited</keyword>. </li></ul>Tata Motors to be debt-free and PV segment to be a new entity <ul><li>Tata Motors would be debt-free from the net automotive debt of ₹48000 crore in the next three years.</li><li>The Indian passenger vehicle business will be subsidiaries to a new legal entity, said company’s CFO PB Balaji. The new legal entity has been filed with NCLT and should be formed within the next 6-9 months. </li><li>Focus on passenger vehicles will be entirely on the front-end, said Balaji.</li><li>Tata Motors generated the highest ever profitability in FY19, which got impacted by COVID-19. </li></ul>JLR to turn profitable for Tata Motors <ul><li>The ongoing trade conflicts have impacted JLR sales across the globe. </li><li>Capex in JLR being pruned significantly to £2.5 billion. </li><li>JLR will be cash positive this year onwards.</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/difference-between-new-force-gurkha-2020-vs-mahindra-thar-2020-features-specification-and-price/articleshow/77717660.cms" data-type="tilCustomLink">Comparison: Force Gurkha 2020 vs Mahindra Thar 2020 — features, specification, and price</a> <a href="https://www.businessinsider.in/business/auto/news/difference-between-new-force-gurkha-2020-vs-mahindra-thar-2020-features-specification-and-price/articleshow/77717660.cms" data-type="tilCustomLink">Tata Motors sees its India loss widen by nearly 22 times as sales fall to one for every five units a year earlier</a>

Tata Motors plans to cut consolidated debt to zero in three years

<ul><li>The Indian auto industry was caught in the midst of a massive slowdown with companies like <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>, <keyword id="42747" type="COMPANY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, reporting fall in sales volume month after month. </li><li>A Fitch report says that with the <keyword id="3084225" type="PERSON" weightage="20" keywordseo="BSVI">BSVI</keyword> vehicles coming in, it’s going to have a heavy impact on the passenger vehicles demand. </li><li>The agency had also downgraded Tata Motors to ‘BB-’ with a negative outlook</li></ul>The little cheer that festive sales has brought the slowing auto sector -- might also soon go away. As per <keyword id="125045" type="COMPANY" weightage="20" keywordseo="Fitch-Ratings">Fitch Ratings</keyword> the Indian auto sector has more troubled times ahead. The industry was caught in the midst of a massive slowdown with companies like Maruti Suzuki, Tata Motors, reporting fall in sales for the last 12 months. While the festive season brought in some respite, a Fitch report says that with BSVI regulations vehicles coming in will have a heavy impact on the passenger vehicles demand. “High dealer inventories coupled with weak consumer sentiment and deferment of purchase decisions ahead of BS6 will limit any significant boost. Higher vehicle costs under BSVI are likely to weigh on PV demand in FY21,” said the report. Giving the auto sector a negative outlook, the report further said that “as the industry grapples with lower volumes amid a highly competitive landscape,” the cash flow generation too will remain negative. This is because auto makers will have to invest in electric vehicles for the next few years. Earlier, the agency had <a href="https://www.businessinsider.in/tata-motors-jaguar-land-rover-fitch-ratings-downgrade/articleshow/70373566.cms">downgraded</a> Tata Motors to ‘BB-’ with a negative outlook because of lesser chances of “TML's profitability and free cash generation in the next two to three years”. SEE ALSO <a href="https://www.businessinsider.in/business/news/tata-motors-jaguar-land-rover-q2-earnings-bring-good-news-for-auto-industry/articleshow/71802900.cms">Not just Tata Motors, a lot of other companies are excited by Jaguar Land Rover numbers</a> <a href="https://www.businessinsider.in/business/news/mg-motors-is-setting-up-charging-stations-before-launching-its-electric-car-mg-zs-ev/articleshow/72254260.cms">MG Motors' second car in India will be electric – and so it has to offer charging stations too</a>

With BSVI coming in, woes of Indian car makers are from over, says rating agency

<ul><li>The car and trucks maker clocked ₹10,000 crore loss between January and March 2020.</li><li>It’s luxury car brand <keyword id="6354362" type="ORGANIZATION" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword> clocked a loss before tax of £422 million after two quarters of profit. </li><li>The India revenue for <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Motors fell a sharp 37% and the COVID-19 pandemic had very little role to play in it.</li></ul>Tata Motors clocked over a billion dollars in loss as Jaguar Land Rover swung back into the red after two quarters of profit. This has forced one of the country’s top car makers to go into a cost cutting mode. “Q1 FY21 is expected to be significantly weaker in both JLR and TML with the full impact of lockdowns being reflected in the results… Actions are underway to significantly deleverage the Tata Motors Group with JLR to become sustainably cash positive from FY22 while becoming future ready,” the company’s statement to the stock exchange said. <div type="image" title="tata motors Stock Price." msid="76388058" hostid="261"></div> While the company has not mentioned layoffs or job losses, employee benefits is the biggest cost for the company, at about 11%, after the cost of inputs needed to build an automobile, which make for over half of its total cost. Tata Motors posted a consolidated net loss of ₹9863.75 crore ($1.3 billion) for the three months ended March 2020, a sharp fall from its profits of ₹1,108.6 crore in the same quarter the previous year. Its total income fell by 27.7% from ₹87,285.64 crore at the same time. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors standalone </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JLR </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-37% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> -5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operating loss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Free Cash outflow </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">£0.7 bn </td></tr></tbody></table> The company was already struggling due to the new BSVI norms, and the COVID-19 crisis only made it worse. Jaguar Land Rover, which accounts for a major portion of the car market in the UK and China took a massive hit during the pandemic. JLR contributes <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/61eb5b50-d915-4415-ba1f-cde018628dbc.pdf">the lion’s share of the company’s consolidated revenue.</a> <div type="image" title="Tata sales 1." msid="76387979" hostid="261"></div> “The company will focus on conserving cash by rigorously managing cost and investment spends to protect liquidity. The company has called out a cost savings program of ₹1,500 crore and a cash improvement program of ₹6,000 crore,” the Tata Motors’ filing said. As part of this, the company has deferred or cancelled lower margin and non-critical investment and is targeting capital expenditure of ₹ 1,500 crore in FY21, substantially lower than ₹5,300 crore in the last two financial years. For Jaguar Land Rover, the company has now increased the cost and cash savings target for March 2021 to £1.5 billion. The stock of Tata Motors fell 4.42% ahead of the earnings. There may be more sell-off in store after the company posted a loss that was <a href="https://economictimes.indiatimes.com/markets/stocks/earnings/tata-motors-q4-results-preview-up-to-rs-2000-crore-loss-likely-as-jlr-drags-eyes-on-cost-reduction-initiatives/articleshow/76379227.cms">nearly five times the market estimate</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/you-cannot-play-games-says-supreme-court-to-automobile-dealers-fada-for-flouting-bsiv-sale-norms/articleshow/76385110.cms">“You cannot play games", India's top court tells the country's car dealers</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-maruti-and-hyundai-offer-discounts-on-cars/articleshow/76324233.cms">After Maruti and Hyundai, Tata Motors offers discounts as car makers get squeezed between slow sales and slower registrations</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-fourth-quarter-revenue-profit-preview-and-share-price-chart/articleshow/76370176.cms">JLR saved the last quarter for Tata motors⁠— but the challenges in China, UK, and Europe are mounting</a>

Tata Motors has gone into cost cutting mode after a shocker from Jaguar Land Rover and an over billion-dollar loss in 3 months

<ul><li>The announcement came after parent <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> posted a consolidated net loss of $1.3 billion for the three months ended March 2020</li><li>The company will begin cutting jobs at the end of July and last through the year. </li><li>Earlier in April, <a href="https://economictimes.indiatimes.com/jobs/jlr-to-put-about-20k-employees-in-uk-on-furlough/articleshow/75305766.cms">JLR decided to put about half of its 40,000</a> employees in the UK on furlough and cut senior management salaries by 10-30%.</li></ul>Tata Motors-owned <keyword id="6354362" type="ORGANIZATION" weightage="20" keywordseo="Jaguar-Land-Rover">Jaguar Land Rover</keyword> (JLR) plans to cut more than 1,000 contract-agency jobs in the UK as it tries to save another £1 billion to cope with the fallout from the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> crisis. This came after JLR parent company Tata Motors yesterday (June 15) clocked over $1.3 billion loss in loss as <keyword id="42034" type="COMPANY" weightage="20" keywordseo="Jaguar">Jaguar</keyword> Land Rover swung back into the red after two-quarters of profit. JLR’s revenue fell 5% between January and March 2020. “Against the backdrop of the <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID-19</keyword> pandemic, the company has taken the difficult decision to reduce the number of contract-agency employees in its manufacturing plants over the coming months,” according to the company statement. According to a <a href="https://www.ft.com/content/7d97180a-3d58-4af0-8491-3fa7445a1480">report</a>, JLR has 32,000 employees working across the UK, and it would lose up to 1,100 agency staff, or contractors, “in the coming months.” The jobs are expected to be cut from across the business’ UK manufacturing sites, a process that will begin at the end of July and last through the year. Currently, in the Pune division, J<a href="https://www.livemint.com/auto-news/jlr-looks-to-build-on-foundation-of-ten-years-in-india-1561718375361.html">LR manufactures six vehicles that include Jaguar XE,</a> Jaguar XF, Jaguar F-PACE under the Jaguar portfolio and the Range Rover Evoque, Range Rover Velar and Discovery Sport under the Land Rover portfolio. Early signs of cost-cutting Earlier in April, <a href="https://economictimes.indiatimes.com/jobs/jlr-to-put-about-20k-employees-in-uk-on-furlough/articleshow/75305766.cms">JLR decided to put about half of its 40,000</a> employees in the UK on furlough and also implemented 10-30% pay cut for one quarter in its senior management salaries. The UK’s largest automaker earlier reported a 30.9% drop in sales due to the pandemic induced lockdown. The company said the cuts were part of its transformation programme to improve operational efficiencies. The company, in its Q4 filing to the stock exchanges already warned about “actions” that will lead the group to become “sustainably cash positive from FY22.” “Q1 FY21 is expected to be significantly weaker in both JLR and TML with the full impact of lockdowns being reflected in the results… Actions are underway to significantly deleverage the Tata Motors Group with JLR to become sustainably cash positive from FY22 while becoming future ready,”<a href="https://www.businessinsider.in/business/auto/news/tata-motors-share-price-earnings-shocker-from-jlr-triggers-cost-cutting/articleshow/76387781.cms"> the company’s statement to the stock exchange said</a>. As per the recent quarterly statement, employee benefits is the biggest cost at the group level, at about 11%, after the cost of inputs needed to build an automobile, which make for over half of its total cost. The company was already struggling due to the new BSVI norms, and the COVID-19 crisis only made it worse. Jaguar Land Rover, which accounts for a major portion of the car market in the UK and China, took a massive hit during the pandemic. JLR contributes <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/61eb5b50-d915-4415-ba1f-cde018628dbc.pdf">the lion’s share of the company’s consolidated revenue.</a> The carmaker is now in talks with the British government to secure a loan of more than £1billion (₹95 billion), <a href="https://www.bbc.com/news/business-52788791">according to reports</a>. Its china segment also raised $705 million (₹53 billion) from Chinese lenders, its first debt financing in China. The group has begun reopening factories in the UK and Europe earlier this month, although many are running at low capacity. Still, due to the sluggish demand, the company decided to keep one of Jaguar Land Rover’s key British plants in<a href="https://news.sky.com/story/coronavirus-jlr-midlands-plant-to-stay-shut-until-august-12000939"> Castle Bromwich closed until at least mid-August</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-motors-share-price-earnings-shocker-from-jlr-triggers-cost-cutting/articleshow/76387781.cms" data-type="tilCustomLink" style="">Tata Motors has gone into cost cutting mode after a shocker from Jaguar Land Rover and an over billion-dollar loss in 3 months</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-fourth-quarter-revenue-profit-preview-and-share-price-chart/articleshow/76370176.cms" data-type="tilCustomLink" style="">JLR saved the last quarter for Tata motors⁠— but the challenges in China, UK, and Europe are mounting</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-maruti-and-hyundai-offer-discounts-on-cars/articleshow/76324233.cms" data-type="tilCustomLink">After Maruti and Hyundai, Tata Motors offers discounts as car makers get squeezed between slow sales and slower registrations</a>

Jaguar Land Rover plans to lay off over a 1,000 contract employees in UK⁠

<keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> (TML) is going on a fund raising spree to meet its expansion plan. It plans to raise Rs 300 crore through issuance of non-convertible debentures (<keyword id="92012" type="CITY" weightage="100" keywordseo="NCDs">NCDs</keyword>). 

	The fund-raising is a part of the company's plan to mop up Rs 4,400 crore through issuance of NCDs in one or more tranches on a private placement basis.
 

	"TML is desirous of issuing the first series of its rated, listed, unsecured, redeemable, NCDs aggregating up to Rs 300 crore, and in this regard is holding a meeting of its duly constituted committee of Senior Executives and Directors on April 27," Tata Motors said in a BSE filing.
 

	In May last year, Tata Motors had proposed to raise Rs 4,400 crore from NCDs to meet its expansion plan.
 

	"It is proposed to issue NCDs on a private placement basis aggregating up to Rs 4,400 crore, in one or more series/tranches during the 12 months with an intention to substitute the short term liabilities/borrowings and for financing, part of the ongoing capital expenditure during the next 12 months as also for general corporate purposes," Tata Motors had said in its annual report.
 

	In continuation of its efforts to strengthen the capital structure, the company intends to augment the long-term resources by substituting part of the short-term liabilities with medium to long term resources, it had said.
 

	The company intends to raise NCDs for a tenure ranging between 2 to 10 years.

	 
	(Image credits: indiatimes)

Tata Motors plans to raise Rs 300 crore through NCDs to meets its expansion plans

<ul><li>Tata Sons Chairman N Chandrasekkharan made a big revelation at the Annual General Meeting.</li><li>The very nature of this business demands continuous investment in product and technology development, he said.</li><li>Jaguar Land Rover's depleting fortunes have been a big drag on Tata Motors.</li></ul>British luxury car maker Jaguar Land Rover (JLR) has been a white elephant for Tata Motors. Revenue from JLR fell by a billion dollars in the year ending March 2019 and made profit in only one of the four quarters last year. Last year, Tata Motors had to take an impairment-- write down the value-- of ₹27,838 crore due to weak sales and profitability at JLR. Things continue to look bleak even after 4,500 jobs were axed. This posed a question in front of N Chandrasekharan, the Chairman of the group's parent Tata Sons, on how long will the conglomerate continue to back the bleeding giant. "A company cannot shut the cash tap as the very nature of this business demands continuous investment in product and technology development," he <a href="https://www.indiatvnews.com/auto/cars-jaguar-land-rover-looking-for-financial-partnership-in-china-tata-chairman-n-chandrasekaran-539207" data-type="tilCustomLink" target="_blank">reportedly</a> said at the Annual General Meeting. "There are many discussions from tactical to strategic for such partnerships. Opportunities are coming and we keep evaluating them and as long as it is in the interest of Tata Motors. We will forge such partnerships so that we are able to address the capex issue," he told the shareholders. Tata Motors has already joined hands with German giant and rival BMW recently for a collaboration for manufacturing electric vehicles under the JLR banner. SEE ALSO: Audi's year of the eight- Audi India MD Rahil Ansari in conversation with Sriram Iyer 
 
 
 <div type="Youtube" id="R4HVmaowq4k" title="Audi's year of the eight- Audi India MD Rahil Ansari in conversation with Sriram Iyer" thumbUrl="https://i.ytimg.com/vi/R4HVmaowq4k/mqdefault.jpg"></div>







 Any recovery for the JLR hinges a lot on how Brexit unfolds. “Uncertainty around an orderly outcome of Brexit negotiations and the evolving global tariffs situation pose risks, in particular to TML's JLR business, which faces a significant level of production-sales mismatch due to concentration of its production base in the UK,” global ratings agency Fitch said while downgrading Tata Motors for JLR's troubles. Aside from Brexit, the US-China trade war and <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-motors-mulls-selling-stake-in-jlr-agencies/articleshow/68216938.cms">signs</a> of a slowdown in the global economy are also compounding JLR's problems. China has traditionally been one of the biggest markets for the luxury car but sale volumes fell a sharp 29% between April and June this year, compared to the same time last year. A month back, credit rating agency Moody’s had downgraded Tata Motors. In addition to JLR related troubles, Tata Motors’ domestic business is also troubled by a general slowdown in the auto market. In June 2019, Tata Motors <a href="https://www.moneycontrol.com/news/business/companies/tata-motors-global-sales-dip-5-in-june-4195251.html">reported </a>a 14% decline in India sales, while a 5% drop was seen in global sales. The stock has lost over 50% of its value in the last one year. 
 
 
 
 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/551517"></div>
]]></cdata></div>









 SEE ALSO: <a href="https://www.businessinsider.in/cbi-accuses-rolls-royce-of-bribing-hal-ongc-and-gail-officials/articleshow/70451323.cms" data-type="tilCustomLink" target="_blank">Rolls Royce bribed officials in government companies in India, says premier investigation agency</a> <a href="https://www.businessinsider.in/share-price-of-maruti-tata-motors-and-mahindra-fall-as-government-pushes-for-electric-cars/articleshow/70430370.cms" data-type="tilCustomLink" target="_blank">India's push for electric vehicles is haemorrhaging car makers</a> <a href="https://www.businessinsider.in/gst-council-slashes-tax-on-evs-and-ev-chargers/articleshow/70407724.cms" data-type="tilCustomLink" target="_blank">Buy electric vehicles for less now, GST council slashes rate from 12% to 5%</a> <a href="https://www.businessinsider.in/nissan-may-lay-off-over-1700-employees-in-india/articleshow/70389996.cms" data-type="tilCustomLink" target="_blank">Nissan may lay off over 1,700 employees in India as car sales slow down</a> <a href="https://www.businessinsider.in/Top-10-electric-cars-that-people-are-excited-about/Tesla-Model-X-507990-searches/slideshow/70404198.cms" data-type="tilCustomLink" target="_blank">Top 10 electric cars that people are excited about</a>

You Searched For "tml" and got 11 results

Tata Motors to demerge biz into two separate listed companies

PTI

Tata Motors subsidiary to operate 921 electric buses in B'luru

IANS

Tata Motors shares slump 4% on poor sales data

PTI

Singur plant row: Tata Motors can recover Rs 766 cr from Bengal govt as compensation

IANS

Tata Motors downgraded again, thanks to slow India business and ‘elevated risks’ from Jaguar Land Rover

Sanchita Dash

Tata Motors plans to cut consolidated debt to zero in three years

Navdeep Yadav

With BSVI coming in, woes of Indian car makers are from over, says rating agency

Sanchita Dash

Tata Motors has gone into cost cutting mode after a shocker from Jaguar Land Rover and an over billion-dollar loss in 3 months

Sriram Iyer

Jaguar Land Rover plans to lay off over a 1,000 contract employees in UK⁠

Navdeep Yadav

Tata Motors plans to raise Rs 300 crore through NCDs to meets its expansion plans

BI India Bureau

Tata Motors is looking for partnerships to revive Jaguar Land Rover

Sriram Iyer

Popular Keywords

Buying Guides