- Tag results for Tata_Motors
According to experts, subdued consumer sentiment and the just concluded general election also had a major part in sales slowdown.
The deal was valued at 37.83 billion rupees ($586.3 million).
The move is aimed at reducing cross holdings of major public corporations.
The company is mulling over to raise up via non-convertible debentures, meetings regarding the plan to be scheduled next week.
Skoda Auto will take the lead on behalf of the Volkswagen Group to drive forward work towards development of vehicle concepts in the economy segment.
The MoU will enable both carmakers to deepen exchanges about technology, components and platforms.
The company is exploring various opportunities, including partnership in AMP development, possibilities of a joint venture or a contract manufacturing with the German auto major.
Some of the major gainers were Tata Motors, Sun Pharma, Infosys and SBI.
Tata Motors yesterday reported a 96.22 per cent decline in consolidated net profit for the December quarter.
Auto, realty and pharma counters took a big hit
Homegrown auto major Tata Motors launched its new pick-up vehicle Tata Xenon Yodha with price starting at Rs 6.05 lakh.
Tata Motors said Mistry and Wadia "intend to provide a separate representation to be sent to the members of the company".
In a filing to the BSE, Tata Motors today decided to convene an EGM to pass a resolution for the removal of C P Mistry and Nusli Wadia as directors of the company.
The directors stopped short of an outright endorsement, or picking sides in the power struggle within India's largest conglomerate.
Tata Motors reported a net profit at Rs 848 crore for the quarter ended September 30, 2016.