Tata Motors rose 1.71% to Rs 342.15 at 09:21 IST on BSE after Jaguar Land Rover on Tuesday, 24 September 2013, unveiled details of its future plans for advanced research and development in the UK.
Meanwhile, the S&P BSE Sensex was down 21.82 points or 0.11% at 19,898.39
On BSE, 32,095 shares were traded in the counter as against average daily volume of 9.86 lakh shares in the past one quarter.
The stock hit a high of Rs 342.65 and a low of Rs 338.50 so far during the day. The stock hit a record high of Rs 354.90 on Friday, 20 September 2013. The stock had hit a 52-week low of Rs 245.35 on 30 October 2012.
The stock had outperformed the market over the past one month till 24 September 2013, rising 11.8% compared with the Sensex's 7.56% gain. The scrip had also outperformed the market in the past one quarter, gaining 18.6% as against Sensex's 7.44% rise.
The large-cap company has equity capital of Rs 643.72 crore. Face value per share is Rs 2.
More From This Section
Tata Motor's subsidiary Jaguar Land Rover (JLR) on Tuesday, 24 September 2013, unveiled details of its future plans for advanced research and development in the UK which will now be focused on a new cutting-edge technology, innovation and education centre in Warwick. The National Automotive Innovation Campus (NAIC) is designed to create a large-scale collaborative research environment, JLR said in a statement. JLR is the lead partner in the project investing 50 million pounds, along with Tata Motors European Technical Centre (TMETC), WMG (Warwick Manufacturing Group) and the UK Government's Higher Education Funding Council England (HEFCE).
Construction of the nearly 100 million pounds NAIC is scheduled to begin in September 2014 at the University of Warwick. Around 1000 academics, researchers, technologists and engineers will work in the building, which will feature engineering workshops and laboratories, advanced powertrain facilities and the latest advanced design, visualisation and rapid prototyping technologies.
Dr. Wolfgang Epple, Director of Research and Technology, Jaguar Land Rover, said: "Investing in collaboration, innovation, research and education is vital if we want to be on a par with our international competitors. Our future sales success, the success of our global business - and the UK economy - lies in the engineering and innovation that will take place in NAIC."
"Creating a new national focus for automotive research and consolidating Jaguar Land Rover's growing research and advanced engineering operations in one centre offers us huge potential. With a critical mass of research capability we will put the UK at the very centre of the global automotive industry - with the NAIC at its hub."
Antony Harper, Jaguar Land Rover's Head of Research, said: "We will announce the details of the specific research projects on which our NAIC research team will collaborate in due course, but these will be long-term, multi-disciplinary challenges - such as electrification, smart & connected cars and Human Machine Interface - which will help us create some key new technologies that will deliver a low-carbon future."
"These collaborative research programmes will harness the best of UK engineering innovation, and with the extra capability the NAIC gives us, you can expect the number and range of new, fresh innovative ideas that we patent, and then take to production in the future, will increase significantly."
As well as the skills and knowledge that will be developed within these research projects, NAIC will have a key role in developing the skills of school children and engineering students, who will be able to use NAIC's laboratories and a dedicated engineering education facility.
Tata Motors' consolidated net profit fell 23.1% to Rs 1726.07 crore on 8.3% growth in net sales to Rs 46751.26 crore in Q1 June 2013 over Q1 June 2012.
Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,88,818 crore ($34.7 billion) in 2012-13. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.
Powered by Capital Market - Live News