India’s passenger EV market will hot up in next 3-4 years
Currently Tata Motors held over two-thirds of the country's EV market, but Mahindra & Mahindra and BYD are emerging players in the Indian market.
Currently Tata Motors held over two-thirds of the country's EV market, but Mahindra & Mahindra and BYD are emerging players in the Indian market.
Tata Motors board approved the proposal to demerge the company into two separate listed entities, viz a) CV and its related investments and b) PV, including India PV, EV, JLR, and related investments.
The company remains positive on its three automotive businesses – Jaguar and Land Rover (JLR), Tata Commercial Vehicles, and Tata Passenger Vehicles.
The market construct is favourable for consolidation around current levels and gradual up move, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Market history tells us that sharp up moves in the market happen at unexpected times. It appears that this truism is turning out to be true
Tata Motors has announced that its revenue went up 29.7 per cent to Rs 79,600 crore in revenue for the quarter ended September 2022 over the previous year's figures. The company said its operating profits or earnings before interest, taxes, depreciation, and amortization was at 9.7 per cent, a jump of 130 basis points over last year's.
Tata Motors said for Q2FY23, it had earned an operational revenue of Rs 78,846.92 crore (last year Q2 Rs 60,435.92 crore) and a net loss of Rs 898.35 crore (Rs 4,415.54 crore).
Automobile major Tata Motors Ltd on Saturday said it will be increasing the prices of its passenger vehicles effective from November 7.
According to Tata Motors, it will supply 150 units of 9-metre and 50 units of 12-metre Starbus electric buses as part of Jammu & Kashmir's initiative for environmentally-friendly public transportation.
“It may take some more time to reach the previous peak in terms of volume but at the same time, I think in terms of payload, we should reach that earlier, because higher payload vehicles are being sold more today as compared to FY19”
