The stock gained 4.84 per cent to close at Rs 1,078, an all-time high, after the company announced its domestic auto sales for the month of November 2009 at 21,387 units, compared with 10,430 units in November 2008, an increase of 105.1 per cent. The company sold a total of 22,587 vehicles (domestic and exports) in November 2009 compared with 11,515 vehicles in November 2008.
The company has signed an agreement with BAE Systems, the global defence systems manufacturer, to create a land systems focused joint venture Defence Company, based in India. The company will hold 74 per cent in the venture and BAE Systems will hold the remaining 26 per cent, the maximum foreign direct investment allowed under the existing defence sector norms.
