Recession effect on TATA Motors.

TATA motors is closing it Pune factory for 3 days ( From this Monday). This closure is basically just for commercial vehicle segment. Passenger car segment will continue its production normally.
This step is taken because of slump in demand for these vehicles.

More over sales of passenger cars will see a further decline in comming months. It is yet to feel the pinch of recession.

More bad news is expected to come from this sector as well as this company.

This year proved to be a very unlucky one for TATA group as first they lost their Singur plant and later last month they faced a huge damage due to terror attack on Taj Hotel in Mumbai.

Hope the comming year brings cheer for TATA Group.
I am bullish on TATA Motors for long term view.
Happy Investing.

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Tata gets additional land from Uttarakhand govt for Nano

India`s largest automobile company, Tata Motors has been allooted 45 acres of extra land at its Pantnagar facility from the Uttarakhand government for Nano project, reports Business Standard.
The previous Congress government, had given Tata Motors, 955 acres of land for its Ace truck plant at Pantnagar, out of a promised total 1,000 acres, according to State Chief Secretary, I K Pandey.
This land allotment is likely to help the company in launching the world`s cheapest car priced at Rs 100,000.
The company moved the mother plant to Sanand in Gujarat from Singur, on account of opposition from Trinamool Congress over land acquisition.
It had originally planned to pump in Rs 15 billion at Singur but the investment was increased to Rs 20 billion, when it shifted to Sanand.
Originally, Nano was to be commercially launched around Durga Puja this year but postponed to the last quarter of this fiscal year. The company is planning Nano production, from its various locations, including Pune and Pantnagar untill the mother plant at Sanand is ready.
Shares of the company declined Rs 4.05, or 2.54%, to settle at Rs 155.60. The total volume of shares traded was 499,254.00 at the BSE (Friday). - MyIRIS

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