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The companies may also face censure action by the market watchdog for alleged lapses Sebi will soon take action against some market operators and senior staff members of about a dozen listed blue-chip firms for their alleged involvement in leak of price-sensitive information through WhatsApp. The companies may also face censure action by the market watchdog for alleged lapses in safeguard mechanism to check leak of unpublished price sensitive information (UPSI), including financial results before they were made public for all investors, regulatory sources said. The regulator is close to completing its probe into the matter, including for suspected unlawful gains through insider trading on the basis of leaked information, and is collating the details it had sought from all concerned companies, the officials said. Almost all the companies have replied to Sebi's queries in this regard. According to top officials, the regulator is taking a tough stand on the c...

Pawan Goenka says not sure about selling cars in phase-II M&M, which is competing with rival   Tata Motors Electric Cars   in the country’s largest electric car tender, said the company finds it “difficult” to comprehend the latter’s pricing in the tender. Tata Motors quoted a price of Rs 10.16 lakh for its electric Tigor sedan in the tender for 10,000 electric cars when M&M offered to sell its e-Verito at approximately Rs 12 lakh (both prices are exclusive of the goods and services tax). “This pricing is difficult for us to comprehend given the fact that we have been in the business for more than five years and have good knowledge about the industry,” Pawan Goenka, managing director at M&M, said in a conference call on Thursday. Also Read :  Tata Motors Wins Bid To Sell 10,000 Electric Cars Tata Motors emerged as the lowest bidder in the tender and is selling 250 of the order for 400 units in the first phase. EESL, which invited the bids...

Upping the ante in the crowded compact sedan category, Tata Motors on Wednesday launched   Tata Tigor , its third product in the tax-efficient sub-four metre sedan segment. The biggest selling point for Tigor is its aggressive pricing. At Rs 4.7 lakh for the base petrol variant, Tigor is now the cheapest compact sedan in the country and even undercuts Tata’s existing models. For example, the largest-selling car in the segment - Swift Dzire - starts at Rs 5.27 lakh, while the base petrol version of Indigo CS, from the Tata stable, is priced at Rs 5.03 lakh. Besides Indigo CS, Tata Motors also sells the Zest in the segment, but has not been able to break the dominance of Maruti Suzuki’s Swift Dzire in the category. The compact sedan and hatchback category, accounted for over 40% of car sales in January 2017, at over 114,000 units. Maruti accounted for 56,000 cars in the category, with Swift Dzire selling over 18,000 units in January 2017. The Tata Tigor 1.2-litre petrol m...

So far, less than 500 executives have been offered VRS, which roughly includes one year's salary Tata Motors, India’s largest automobile maker, has started rolling out a voluntary retirement scheme (VRS) for its employees as part of its organisational restructuring exercise. This is part of a human resources (HR) restructuring drive that is expected to transform the organisation into a much leaner company with a flat hierarchical structure. The new structure will be in place from April 1. So far, less than 500 executives have been offered VRS, which roughly includes one year’s salary, among other benefits, sources said. The company, however, did not confirm the details of the VRS package or how many were offered VRS. A company spokesperson said: “ Tata Motors   confirms that as part of the ongoing organisation effectiveness project, where we have already finalised the top two levels of our management structure, a proposal on VRS package has been presented and approved b...

Before EGMs, Tata group writes 'an appeal' to stakeholders of all group companies Even as both camps in the Tata vs Mistry boardroombattle get ready for the impending extraordinary general meetings of various Tata group companies to oust former Tata Sons chairman Cyrus as director, the war of words through statements and counter-statements do not seem to end. On Sunday, while the Ratan Tata camp alleged that Mistry misled the selection committee to become the chairman of Tata Sons, Mistry’s office stated that Ratan Tata had been repeating the same lie a thousand times and hoping it to become a truth. ALSO READ:   Mistry misled to become chairman, says Tata Sons Here is the full text of the Tata group’s letter to stakeholders explaining why the group lost its confidence in Cyrus Mistry: AN APPEAL FROM THE TATA GROUP TO ALL STAKEHOLDERS OF TATA COMPANIES Extraordinary General Meetings of various Tata Companies are coming up over the next few weeks. We, at Tata Sons Lt...

Says Indian Hotels, Tata Motors' passenger cars, Tata Steel UK, telecom biz and Mundra UMPP are legacy hotspots Group companies in the salt-to-software Tata Sons conglomerate faces potential writedowns to the tune of close to $18 billion (about Rs 1,18,000 crore) due to investments in unprofitable businesses, according to an internal letter that ousted Chairman   Cyrus Mistry   sent to the company's board. Mistry was shunted out of the company on Monday by the   Tata Sons   board for reasons not officially made public by the group, however, sources told Reuters that Mistry had lost favor with family patriarch   Ratan Tata   and the powerful trusts, which own two-thirds of the group. Mistry said in the letter that Indian Hotels Co, passenger-vehicle operations of Tata Motors Ltd, the loss-making European steel operations of Tata Steel, its telecom venture and the Mundra ultra mega power plant of Tata Power are "legacy hotspots" of the company. "A...

New Jaguar XF Launched In India; Price Starts At Rs. 49.50 Lakh Tata Motors-owned British brand   Jaguar XF   on Wednesday launched the all-new XF luxury saloon with prices starting at Rs 49.5 lakh (ex-showroom, Delhi). Deliveries of XF are scheduled to begin from the end of September and customers can book one through any of the 23 authorised Jaguar Retailers located near them. With the introduction of the Ingenium Diesel engine, the XF becomes the first Jaguar in India to get this power-train. The car is launched in three diesel and two petrol variants with the top end costing Rs 61.85 lakh. The Jaguar XF will take on Mercedes-Benz E Class, AudiA6 and BMW 5 Series. The E-Class is the highest selling model for Mercedes-Benz, which is India's largest selling luxury car maker.   Read More

India’s biggest auto extravaganza, the Auto Expo, which had attracted dozens of companies, came to a close on Tuesday, but not without concerns being raised over its declining popularity.  The week-long biennial event, promoted by the  Society of Indian Automobile Manufacturers (SIAM), has largely been dubbed as a non-event this time with just 5,26,914 general visitors. The number was well short of expectations of the organisers, making it one of the worst in over two decades. In December, the automobile lobby body had stated that it was expecting a rise of at least 7% in general visitors, which would, in absolute terms, be more than 6,00,000.  Read Full Article Over Here :  Business Standard News  

Markets continue their southward journey triggered by a massive sell-off in global equities. However, a revision in country’s GDP growth for the current fiscal year has arrested the free fall on Dalal Street. At 2 pm, the S&P BSE Sensex was down 286 points at 24,001 and the Nifty50 was down 92 points at 7,295.  Read Full Article Over Here :  Business Standard News

After cracking over 2% in the previous session, marketsmade a comeback today morning with Sensex reclaiming the crucial 25,000 mark in the early trades. However, the Sensex slipped below the key level but continues to remain firm as investors purchase the battered bluechips at attractive valuations. At 11:15 am, S&P BSE Sensex was up 63 points at 24,915 and Nifty50 was up 17 points at 7,585. Read Articles  

Benchmark shares  indices crashed over 2%, amid a sell-off in Asia and Europe, after suspension of trading in Chinese shares post the sharp plunge in Shanghai Composite. Further, geopolitical tensions in the Middle-East also dampened sentiment. The S&P BSE Sensex tumbled 534 points to close at 25,627 and the Nifty50 plunged 171 points to end at 7,793. In the broader markets, BSE Mid-cap and Small-cap indices cracked 1% each. Market breadth finished remain weak with 1,284 gainers and 1,598 losers on the BSE. “China's PMI continues to underline its downward growth trajectory with equity markets reflecting a sub-7% GDP figure for calendar 2016 and beyond. India’s manufacturing PMI has hitherto stayed reasonably resilient despite weak aggregate demand. However,a sub-50 print at the beginning of the year marks extended expectations on a recovery. One would hope that prudent fiscal expansion and select sector-wise recovery would bring back the ...