Tata Motors rose 0.37% to Rs 258.55 at 13:03 IST on BSE after the company on Wednesday, 3 April 2013, said it has launched its global range of Tata PRIMA trucks in the Sri Lankan market along with its partner, Diesel & Motor Engineering PLC.
Meanwhile, the S&P BSE Sensex was down 179.65 points or 0.96% at 18,621.99.
On BSE, 6.52 lakh shares were traded in the counter as against average daily volume of 10.36 lakh shares in the past one quarter.
The stock hit a high of Rs 263.15 and a low of Rs 255.65 so far during the day. The stock had hit a record high of Rs 337.05 on 10 January 2013. The stock had hit a 52-week low of Rs 202.95 on 26 July 2012.
The stock had underperformed the market over the past one month till 3 April 2013, declining 10.76% compared with the Sensex's 0.62% fall. The scrip had also underperformed the market in past one quarter, sliding 18.94% as against Sensex's 4.87% fall.
The large-cap company has equity capital of Rs 638.01 crore. Face value per share is Rs 2.
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Tata Motors said that the models introduced in Sri Lanka are the Tata PRIMA 4023 LX (4X2), Tata PRIMA 4923 LX (6X4), Tata PRIMA 4028 ( 4X2), Tata PRIMA 4938 (6X4), Tata PRIMA 4038 (4X2) and the Tata PRIMA 4928 (6X4), which are primarily targeted at container movement, cement transportation & the gas logistics across the island, the company said in a statement.
According to Mr. Ravindra Pisharody, Executive Director, Commercial Vehicles Business Unit, Tata Motors, "The Tata PRIMA range is an output of collaboration across the Tata Motors family, supplemented by inputs from partners across the world. The revamped infrastructure in Sri Lanka makes it possible for transporters to reap the benefit of the Tata PRIMA trucks with higher power, speed and carrying capacity. This new range from Tata Motors will meet the changing needs in the Sri Lankan market".
Tata Motors said that the launch of Tata PRIMA trucks has culminated with the transformation which is taking place in Sri Lanka as reflected in the revamped infrastructure of world-class ports, expressways & new economic hubs being developed. The Tata PRIMA range comprises tractor-trailers, tippers, and special application vehicles which can meet varied end user requirements, the company said in a statement.
The Tata PRIMA has been jointly developed by Tata Motors and its two subsidiaries, Tata Daewoo Commercial Vehicle Company, South Korea and the Tata Motors European Technical Centre PLC, UK.
Tata Motors' total sales (including exports) of Tata commercial and passenger vehicles in March 2013 were 72,712 vehicles. The company's domestic sales of Tata commercial and passenger vehicles for March 2013 were 69,160 units. Cumulative sales (including exports) for the company were 8.10 lakh units in FY 2013. Tata Motors announced the monthly sales data on Monday, 1 April 2013.
Tata Motors' consolidated net profit declined 52.2% to Rs 1627.50 crore on 1.4% growth in net sales to Rs 45821.31 crore in Q3 December 2012 over Q3 December 2011.
Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,65,654 crore in 2011-12. 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 (JLR), 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 and South America.
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