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Tata Motors defends strategy for $1500 Nano car - Stock Cash Future Option Tips

Tata Motors, part of India's Tata group, defended its strategy for producing the $1,500 Nano but shied away from commenting on the loss-making car's future, after the conglomerate's ousted chairman said there were emotional reasons for not shutting down production.

Tata Motors' issued the statement to the stock exchange late Friday after an internal letter by ousted chairman Cyrus Mistry said the cost of Nano's production was always higher than its 100,000 rupees ($1,497.33) price tag and the project needed to be shut down if the company wanted to remain profitable.

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Mistry was sacked in a boardroom coup last week with group patriarch Ratan Tata taking over the reins as interim chair of Tata Sons. A bitter public feud has since erupted between the two sides, raising prospects of a legal battle.

The Nano's concept received global interest for its affordable pricing but a change in its manufacturing location and the perception of a cheap car hurt production and sales, Tata Motors said in the statement.

Mistry's leaked letter, addressed to the Tata Sons directors on Oct. 25, said emotional reasons were keeping Tata Motors away from shutting down the Nano's production.

Nano sales declined more than three-fifths to 4,459 cars in the in the six months of the fiscal year beginning April 2016.

The car maker had written off some costs associated with the Nano, it said.
Tata Motors also said investments in the Nano factory could be used for making other products and that the company would focus on "growing and attractive segments of the passenger vehicle market."

The company denied Mistry's accusation of aggressive accounting for product development expenses and said it followed standard norms which present a fair and true picture of its financial health.

Tata Sons on Friday announced a new management team for the $100 billion steel-to-software group under interim chairman Ratan Tata.

While Mistry has been removed as chairman of Tata Sons, he is still chairman of some of the key listed group companies such as Indian Hotels Co, Tata Motors, Tata Consultancy Services Ltd and Tata Steel.

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TradeBizz Research Update | Stock Cash Future Option Tips

CLOSING BELL: IN TODAY’S SESSION, NIFTY 50 CLOSED AT 8433.75 (-51.20 OR -0.60%)

BANKNIFTY CLOSED AT 19145.05 (-121.20 OR -0.63%)

ADVANCED SCRIPTS: - 17, DECLINED SCRIPTS-34, UNCHANGED SCRIPTS -0.

TOP GAINERS: - HCLTECH (+3.92%), ITC (+3.14%), TATAMTRDVR (+1.25%).

TOP LOSERS: - SUNPHARMA (-7.19%), DRREDDY (-5.25%), INFRATEL (-4.44%).

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STOCK FUTURE REVIEW: TODAYS TOTAL PROFIT OF RS. 28590/- ELITE VDEL (+12000) BATAINDIA (+7590) RELCAPITAL (+6000) CANBK (+6000) AMARAJBAT (-3000)...... JOIN OUR SERVICES TO GAIN SUCH A GENUINE PROFIT EVERYDAY…..

STOCK OPTION REVIEW: TODAYS TOTAL PROFIT OF RS. 11000/- ON 2 LOTS ……. JSWSTEEL 1600 PE (+8550) STAR 1060 PE (+2450)...... JOIN OUR SERVICES TO GAIN SUCH A GENUINE PROFIT EVERYDAY…..

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TradeBizz Research Update | Stock Future

OPENING BELL:

NIFTY FUTURE UP +18.65@ 8503.60

BANKNIFTY FUTURE DOWN -27.10@ 19239.15

USDINR @ 66.9025.

Nifty Future		Bank Nifty Future
Support Resistance		Support Resistance
S1-8494.45	R1- 8555.05	S1 – 19169.34	R1- 19355.04
S2-8469.6	R2-8590.8	S2-19088.62	R2-19460.02

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TradeBizz Research Opening Update | Stock Tips

OPENING BELL: 

NIFTY FUTURE UP +9.75@ 8625 

BANKNIFTY FUTURE DOWN -73.95@ 19519.35 USDINR @ 67.1900.

NIFTY FUTURE: - S1-8566.85, S2-8518.5 R1- 8643.55, R2-8671.9

BANK NIFTY FUTURE: - S1 – 19429.46, S2-19265.63 R1- 19691.76, R2-19790.23.

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Tradebizz Research Update - Stock Tips

CLOSING BELL : IN TODAY’S SESSION,

NIFTY 50 CLOSED AT 8615.25 (-76.05 OR -0.88%)

BANKNIFTY CLOSED AT 19499.90 (-344.95 OR -1.74%)

ADVANCED SCRIPTS:- 12,DECLINED SCRIPTS-38, UNCHANGED SCRIPTS -1.

TOP GAINERS:- IDEA (+4.12%), KOTAKBANK (+2.99%), HEROMOTOCO (+1.92%).

TOP LOSERS:- AXISBANK (-8.18%), TATAMTRDVR (-5.66%), TATASTEEL (-5.27%)

Nifty is going to touch 9200 before diwali…..To get stock future tips, stock cash tips and more details click here- http://www.tradebizzindia.com/freetrial.php

Stocks Of The Day - Stock Future Tips | Stock Cash Tips

TBR UPDATE -

NIFTY FUTURE - S1-8692.74, S2-8662.47 R1- 8750.64, R2-8778.27

BANK NIFTY FUTURE - S1 – 19754.6, S2-19680.2 R1- 19901.2, R2-19973.4

OPENING BELL - 

NIFTY FUTURE UP +12.75@ 8721.70

BANKNIFTY FUTURES UP +11.15@ 19831.85 USDINR @ 66.8950

Stocks of the day - Stock Cash Tips

Idea Cellular Q2 -

Consolidated net profit down 58.5 percent at Rs 91.4 crore versus Rs 220.4 crore (QoQ).

Consolidated total income down 2 percent at Rs 9,300 crore versus Rs 9,486.6 crore (QoQ)

Consolidated EBITDA down 7.6 percent at Rs 2,840.3 crore versus Rs 3,074.7 crore (QoQ)

Consolidated EBITDA margin at 30.54 percent versus 32.41 percent (QoQ)

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Bharti Infratel Q2 -

Net profit up 2.3 percent at Rs 773.8 crore versus Rs 756.2 crore (QoQ)

Revenue up 2.5 percent at Rs 3,291.9 crore versus Rs 3,210.7 crore (QoQ)

EBITDA up 3.2 percent at Rs 1,453.7 crore versus Rs 1,408.2 crore (QoQ)

EBITDA margin at 44.2 percent versus 43.9 percent (QoQ)

Reliance Capital Q2 -

Net profit up 1.2 percent at Rs 253 crore versus Rs 250 crore (YoY)

Total income at Rs 4,886 crore versus Rs 2346 crore (YoY)

EBITDA up 7.2 percent at Rs 1,130 crore versus Rs 1,054 crore (YoY)

EBITDA margin at 23.1 percent versus 4.9 percent (YoY) 

Adani Transmission Q2 -

Consolidated net profit down 38.7 percent at Rs 99.5 crore versus Rs 162.2 crore (YoY)

Consolidated total income up 21 percent at Rs 682.7 crore versus Rs 564.2 crore (YoY)

Consolidated EBITDA down 10.3 percent at Rs 473.1 crore versus Rs 527.7 crore (YoY)

Consolidated EBITDA margin at 69.3 percent versus 93.5 percent (YoY)

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