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Key Developments: Tata Motors Ltd (TAMO.NS)

TAMO.NS on National Stock Exchange of India

27 May 2016
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Latest Key Developments (Source: Significant Developments)

Tata Motors says LIC of India raises stake in co to 7.012 pct
Wednesday, 18 May 2016 06:06am EDT 

Tata Motors Ltd : LIC of India raises stake in co by 2.1 percent to 7.01 percent .  Full Article

Tata Motors Group global wholesales up 5 pct in April 2016
Tuesday, 10 May 2016 09:03am EDT 

Tata Motors Ltd : Global wholesales in April 2016, were at 81,333 nos., higher by 5%, over April 2015 .  Full Article

Jaguar land rover says April retail sales of 41,341 vehicles, up 11 pct
Monday, 9 May 2016 12:08am EDT 

Jaguar Land Rover: Jaguar Land Rover Ltd says April retail sales of 41,341 vehicles, up 11 percent . Jaguar Land Rover Ltd says Jaguar April retail sales of 7,993 vehicles, up 49 percent . Jaguar Land Rover Ltd says Land Rover April retail sales of 33,348 vehicles, up 4 percent Further company coverage: [TAMO.NS TAMOJL.UL] (Bengaluru newsroom) ((ReutersIndia.snapping@thomsonreuters.com ; +91 80 6749 1310;)).  Full Article

Tata Motors Ltd strike likely to flare up on union support Company says it suspended workers for misconduct, not their union activities - Business Standard
Saturday, 12 Mar 2016 02:16am EST 

Tata Motors Ltd:Speaking at a press conference here today Ashim Roy, vice-president of the National Trade Union Initiative, said, “The company has taken punitive action against 26 workers - RTRS.Also the intention is to not let workers form a union at the plant.”.He said this was a violation of workers’ rights and claimed 22 trade unions, including the All India Trade Union Congress (AITUC), the Indian National Trade Union Congress (INTUC) and the Centre of Indian Trade Unions (CITU) had extended support to their struggle.Roy said the unions would undertake a statewide movement to expose the victimisation of labour and farmers in Gujarat.Union leaders are planning to invite popular faces of dissent like JNU student Kanhaiya Kumar and Patidar agitation leader Hardik Patel to extend support to workers at the Tata Motors plant.The Sangh Parivar-affiliated Bharatiya Mazdoor Sangh (BMS) has not yet come out in support of the movement. “.The company respects the right of workmen to form a union. The 26 workmen who have been suspended on charges of serious misconduct have nothing to do with union formation.All workmen other than those suspended on charges of indiscipline should resume duty,” a Tata Motors spokesperson said.The Ahmedabad district collector had tried to mediate between the workers and the management on Friday and asked the striking workers to resume work.  Full Article

Tata Motors Ltd sets deadline for striking workers to join back - Business Standard
Tuesday, 8 Mar 2016 02:03pm EST 

Tata Motors Ltd:Tata Motors on Tuesday said the company has yet again reached out to the striking workers and advised them to resume duty on or before March 11, failing which, the company would take appropriate legal actions - Business Standard.The workers, however, said there was no plan to join back as of now.Gujarat Khedut Samaj (GKS), a farmers outfit, has already extended support to the striking workers, and indicated that it would move the Gujarat High Court to protest against the state labour department’s decision to prohibit the strike.Sagar Rabari, secretary, GKS said, “This is not any essential service or commodity, that the government acted in a hurry to declare the strike illegal.We would move Court against this. Also, we are seeking permission to sit in a dharna before the Ahmedabad collector’s office.” Tata Motors said in a statement on Tuesday, “Under Clause 10(3) of the Industrial Disputes Act 1947, to prohibit the ongoing illegal strike by Gujarat government, for all such workmen who are yet to resume duty, the company will consider it as unauthorised absence.”.The company has yet again reached out to the striking workmen and advised them to resume duty on or before March 11, failing which the company would be compelled to take appropriate legal actions.”.  Full Article

Tata Motors Ltd plant at Sanand: Labour dept prohibits strike, asks workers to resume work - The Indian Express
Thursday, 3 Mar 2016 09:54am EST 

Tata Motors Ltd:The Gujarat government Thursday prohibited the strike announced by the 400-odd workers at the Tata Motors' Sanand plant since February 22 and asked them to resume work immediately - The Indian Express.Last week, a worker on the condition of anonymity, had said that the lack of wage hikes and the move to form a trade union by workers had been a bone of contention between the company management and them since December.However, what escalated the situation was when 422 workers, who are permanent employees, went on strike last month, protesting the suspension of 28 workers by the management and demanded their reinstatement.Talks initiated by the Deputy Labour Commissioner between the management and workers a few days back failed to break the deadlock, even as the strike entered the eleventh day Thursday."I have visited the plant four times and we had held a joint meeting between both parties, including the striking workers and the company, at the office of the Assistant Labour Commissioner in Ahmedabad, but no solution was reached.We have given the order to the company's management and the workers and we have referred to the suspension of the 26 suspended workers to the Industrial Tribunal. A decision on the same should be taken within 60 days.  Full Article

Tata Motors Ltd declares lockout at Dharwad plant - Business Standard - Reuters
Sunday, 7 Feb 2016 11:12am EST 

Tata Motors Ltd:Tata Marcopolo, owned partially by Tata Motors, India’s biggest commercial vehicle manufacturer, has declared a lock-out at its bus manufacturing plant in Dharwad, Karnataka following continued strike by workers. - Business Standard.Dissatisfied with the revision in wages and subsequent suspension of a dozen staff members, a section of workers at the plant are alleged to have incited others to disrupt work. - Business Standard.The company decided to shut down operations on Saturday at the plant, which makes buses under the Tata Marcopolo brand - Business Standard.The Karnataka labour commissioner has called for a meeting on Monday with trade unions and Tata Motors Marcopolo to revoke the suspension of production at the factory, according to sources - Business Standard.This is not the first time the plant witnessed labour trouble. In April last year, the plant faced a similar situation but the issue was resolved amicably - Business Standard.Abhishek Desai, president, Tata Motors Marcopolo Workers Association, said, "We want to resolve the crisis. - Business Standard.If there is no production, thousands of workers would lose jobs and harm industrialisation of the Dharwad region." The plant produces 60 buses a day for both the local market and markets such as Sri Lanka and Bangladesh. - Business Standard.  Full Article

Tata Motors Ltd appoints Guenter Butschek as chief executive officer and managing director
Monday, 18 Jan 2016 06:30am EST 

Tata Motors Ltd:Says appointment Guenter Butschek as chief executive officer and managing director of the company for a period of five years and he is expected to join by Feb. 15, 2016.  Full Article

Tata Motors Ltd - India's top court upholds ban on sale of large diesel cars in Delhi - Reuters
Monday, 4 Jan 2016 05:43pm EST 

Tata Motors Ltd:India's top court on Tuesday upheld a temporary ban on the sale of large diesel cars in New Delhi to combat toxic smog in India's capital, but postponed hearing an industry appeal on an environmental tax that carmakers say will hit investment. - RTRS.Delhi's block on new diesel cars has unsettled the industry, its salesmen and investors, who warn the ban and uncertainty surrounding it could derail a tentative recovery in auto sales - RTRS.Green groups want to extend the ban to smaller diesel cars and other smog-choked cities in India - RTRS.The presiding Supreme Court judge said on Tuesday that the court was considering expanding the ban to diesel cars with engine capacity of less than 2,000 cc - currently not covered - but would first seek industry input on the matter - RTRS.The Supreme Court had also been expected to rule on Tuesday on a separate green tax on all diesel cars in the city, but has yet to announce its decision on that levy - RTRS.The decision on the tax, critical for automakers such as Mahindra & Mahindra, Tata Motors and Toyota Motor Corp that have invested heavily in making cars for diesel-loving Indian consumers, may now be heard next week - RTRS.India's automakers say they want a comprehensive plan - rather than court-led initiatives - to determine the regulatory structure - RTRS.  Full Article

Tata Motors Ltd - Temporary Delhi diesel vehicle ban leaves automakers in dark, investors jittery - Reuters
Sunday, 13 Dec 2015 07:10pm EST 

Tata Motors Ltd:A nearly four-week ban on registering new diesel-powered vehicles in India's capital has confused automakers and investors, prompting concerns that efforts to battle Delhi's air pollution could derail the auto industry's tentative recovery - RTRS.India's top environmental court on Friday banned the registration of diesel vehicles in Delhi until Jan. 6 as the city experiences hazardous levels of pollution, in part due to diesel emissions - RTRS.But the court's ruling gave little detail, sparking a sell-off in automakers' shares on Monday and industry frustration - RTRS.Shares in Tata Motors, India's second-biggest automaker by market value, fell as much as 4.6 %, while market top utility vehicle maker Mahindra & Mahindra's stock was down as much as 2.65 %, adding to losses on Friday after the ruling - RTRS."If our vehicles are banned in the largest market in India (New Delhi), that is bound to have an impact on the bottom growth for us or anybody else for that matter," Pawan Goenka, an executive director at Mahindra told reporters on Saturday during a media conference call - RTRS.The ban by India's National Green Tribunal came a day before world leaders at the global climate summit in Paris struck a weekend deal to rein in rising emissions blamed for warming the planet. The ruling can be challenged in a higher court - RTRS.Hyundai Motor joined Mahindra in saying the ruling created uncertainty on the status of cars sold but not registered - RTRS.  Full Article

Fitch Affirms Tata Motors at 'BB'; Outlook Stable

(The following statement was released by the rating agency) SINGAPORE, May 03 (Fitch) Fitch Ratings has affirmed India-headquartered Tata Motor Limited's (TML) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB'. The Outlook is Stable. The rating reflects TML's small size in relation to global auto majors and its profitable wholly owned subsidiary, Jaguar Land Rover (JLR, BB-/Positive), which accounted for 75% of TML's consolidated revenue and 90% of EBITDA in the financial year