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Series: EQ | ISIN: IN9155A01020 | SECTOR: Auto Ancillaries

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Sep 26, 11:19
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Sep 26, 11:19
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Company History - TATA MOTORS - DVR
 - The Company was incorporated on 1st September at Mumbai to
 manufacture  diesel vehicles for commercial use, excavators,
 industrial shunter, dumpers, heavy forgings and machine tools.
 - The commerical diesel vehicles which were known `Tata Mercedes
 Benz' (TMB) are now called `Tata' vehicles after the expiry of the
 collaboration agreement with Daimler-Benz AG, West Germany.  The
 company also used to manufacture pulp and paper making machinery.
 -Tata Enginering undertook manufacture of 5000 'KC' broad gauge open
 wagons for the Indian Railway.
 -The Managing Agency Tata Sons was transferred to Tata Industries on
 July 1, 1946. The Managing Agency system continued till it was
 abolished by an act of Parliament in 1970.
 -Steam Road Roller introduced in collaboration with Marshal Sons (UK)
 1950 Collaboration signed with M/s Krauss-Maffei, W.  Germany for
 manufacture of steam locomotives 1954 Collaboration with M/s Daimler
 -Benz AG, W.Germany, for the manufacture of medium commercial
 vehicles at Jamshedpur.
 - Steel foundry set up in collaboration with Usines Emile Henricot of
 Court St. Etienne, Belgium.
 - Research and Development Center set up at Jamshedpur. 
 - The company's name, which was Tata Locomotive & Engineering Company
 Ltd.was changed to Tata Engineering & Locomotive Company Ltd.
 -Collaboration with M/s Pawling & Harnischfeger (P&H), U.S.A.  for
 manufacture of cable type excavators and cranes.
 - A project for the production of large press tools and complex dies
 was undertaken in collaboration with Raymond. F.  Thompson
 (Engineers) Ltd. UK.
 - With effect from 1st July the Investa Machine Tools and Engineering
 Co. Ltd. was amalgamated with the company and it became the Machine
 Tool Division.
 -Vehicle manufacture facilities steadily built up at Pune 1968
 Collaboration with M/s Hueller Hille Gmbh, W. Germany, for the
 manufacture of unit construction special purpose machines.
 - Consequent to the amalgamation of Central Bank of India, Ltd.,
 thecompany issued and allotted to the shareholders of erstwhile
 CentralBank of India, Ltd., 11,39,208 - 7.75% mortgaged debentures of
 Rs.100each on 1st October.  Option was given to convert 50% of their
 facevalue of a block of 5 debentures into one equity share of the
 Companyat a premium of Rs.150 per share.
 - Consequently 3,19,825 debentures were submitted to convert 50% of
 their face value into 63,965 No. of equity shares.  These shares were
 issued on 31st March 1975.
 - Subsequently, 3,19,824 debentures of Rs.50 each were consolidated
 into 1,59,912 debentures of Rs.100 each.  As per the terms of issue,
 these debentures were to be redeemed at par anytime between 1.10.1975
 to 30.9.1982.
 - Central Bank of India Ltd., was merged with the Company with effect
 from 24th April.  Allotment of shares and debentures as per the terms
 of the scheme of amalgamation to the shareholders of Central Bank of
 India Ltd., was completed during January-March 1972.
 - During the year company made a sale of know-how to Tata Precision
 Industries Pvt Ltd in Singapore for the design and production of
 machinery and tools. The company was also appointed the technical
 consultants to TPIL for a period of 10 year for which the Company
 to receive a royalty of 3.5% of net sales for seven years commencing
 from the date TPL start making profit. 
 - The company entered into a joint venture with Tata Industries
 Sdn.Bhd. of Malaysia for the assembly of the Telco vehicles in
 - The company issued 10,50,000-11% 7 year unsecured convertible bonds
 of Rs.450 each at par at an aggregate value of Rs.47.25 crores as
 follows: 2,54,701 bonds as rights to shareholders other than
 Daimler-Benz AG, West Germany: 1,44,444 bonds to Daimler-Benz Ag,
 West Germany; 1,15,355 bonds to employees and directors of the
 Company and
 5,35,500 bonds to the public.  The public offer as made during
 October 1980 and it was oversubscribed by five times.  Conversion of
 bonds into equity shares will took place in 1983-84 and 1987-88. 
 - The company issued 15% secured non convertible debentures of Rs.100
 each aggregating to 30 crores in order to augment the long-term funds
 for working capital requirements and to meet the capital expenditure
 on its modernisation and replacement programme.  This issue was made
 under the schemes, viz.,
 - (i) Cumulative interest payment scheme and
 - (ii) non-cumulative interest payment scheme, which the applicant
 could choose.  It also offered these debentures simultaneously to
 other categories of persons like the resident convertible
 bondholders, debenture holders, depositors, preference shareholders,
 directors and
 the Company' s employees, their friends and relations and business
 associates of the Company.  These are redeemable at a premium of 5%
 on 1st Nov.  1997 under the non-cumulative interest payment scheme
 and in three equal annual instalments starting from 1st November 1997
 under the cumulative interest scheme.  The interest rate has been
 reduced to
 14%.  The company also privately placed 5,500,000-15% NCD's of
 each of the series. 
 - 1,83,839 No. of equity shares issued (prem. Rs 14.79 per share) to
 holders of 10.5% deb. 10,10,696 No. of Equity Shares allotted (prem.
 Rs 60.70 per share) in conversion of 11% bonds (I Option). 
 - The Govt. approval was received for increasing the vehicle
 manufacturing capacity to 35,520 vehicles per annum thereby bringing
 the total licensed capacity to 78,000 vehicles.  A letter of intent
 was received for setting up a new plant for the manufacture of 9000
 vehicles per annum in U.P which was later converted into an
 industrial licence.
 -Collaboration with M/s Hitachi Construction Machinery Co. Ltd.,
 Japan, for manufacture of hydraulic excavators. Expansion of capacity
 at Pune.
 -Collaboration with M/s Hitachi Construction Machinery Co. Ltd.,
 Japan, for manufacture of hydraulic excavators.
 - All the dies and many of the machine tools and production devices
 required for the new `TATA 407' and `TATA 608' series were produced
 by the Company in Capital Goods Division.  The company started making
 CNC machines in Capital Goods Division and its engineers were
 receiving know-how and training from Nachi-Fujikoshi and Niigata of
 Japan with
 whom the Company was collaborating in these fields.  A new
 electronics centres was also commisioned at Pune to support the
 manufacture and maintenance of this new generation of CNC machines. 
 -Collaboration with Niigata Engineering Co. Ltd, Japanfor NC / CNC
 Horizontal Machining Centers and with Nachi-Fujikoshi Corp., Japan
 for NC /CNC In line Machining Centers and flexible manufacturing
 - The company issued 40,00,000 15% NCD's at the rate of Rs.100 each
 for Rs.40 cr on rights basis.  Subsequently 20,00,000 additional
 debentures were issued to retain over-subscription.  These were
 allotted on 31 Dec. 1986 and are redeemable in 3 equal instalments
 off Rs 35 each at the end of the 7th, 8th, and 9th year at a premium
 of 5% being included in the 1st instalment.
 - The Company offered during August/September 11,15,790-12.5% secured
 convertible debentures of Rs.950 each as follows: (i) 8,87,368
 debentures to the existing shareholders in the proportion of 1
 debenture for every 6 equity shares held: (ii) 1,75,789 debentures
 the holder of 11% convertible bonds in the proportion of 1 debenture
 for every 6 bonds held and (iii) 52,633 debentures to the employees
 (including Indian Working Directors)/workers of the Company on an
 equitable basis (only 35,864 debentures were taken up).  Additional
 2,65,789 convertible debentures were issued to retain over
 subscription in the cartegories (i) and (ii).
 - 10,10,196 Equity shares allotted (prem. Rs 60.70 per shares) in
 con. of 11% bonds in 1987-88.  40,69,573 No. of Equity shares
 allotted in con. of 12.5% deb. in 1988-89.
 - The Tata mobile pick up entirely designed and engineered by Telco
 was launched in July 1988.  It also obtained know how for the
 manufacture of thin walled automotive aluminium castings from Kloth
 Senking Metallgiesserei Stahl Gmbh, West Germany.  A portion of
 Rs.550 of each debenture issued in 1987 got converted into 2 equity
 shares of Rs.100
 each at a premium of Rs.175 on 1st April 1988.  A part of the
 remaining debentures were converted into 13,39,953 equity shares on
 1st October 1988.  The balance was either retained by the holders as
 debentures or sold back to the company by them at face value.
 - During the year company undertook to set up a new forge shop, a
 high output foundry line, a new paint shop as well as augmentation of
 engine and gearbox manufacturing facilities, all at Jamshedpur.  Test
 facilities such as specially constructed gradient track to check the
 climbing capability of vehicles and their ability to start on an
 incline was added to the Engineering Research Centre at Pune.
 - During the year company negotiating with Daimler-Benz for
 manufacturing their World Concept Truck in India.  These vehicles
 were to be marketed overseas by Daimler-Benz under their brand which
 would lead to technological upgradation of the existing range of
 vehicles in
 - The company acquired 25% of the market share in the light
 commercial vehicles. The company signed an agreement with Hitachi
 Construction Machinery Co.Ltd. Japan for the manufacture of a more
 advanced series of hydraulic excavators ie, `EX'series.
 - During the year, Nachi-Fujikoshi, a collaborator of the Company
 agreed to buy the online machinery centres made in Telco's machine
 tool division.  A letter of intent was also received for supplying
 vehicle aggregates to Mercedes Ben 355 Indonesian Partner.
 - During the year company obtained know-how for the manufacture of
 thin-walled automotive aluminum casting from Kloth Senking
 Metallgiesserei GmbH, a subsidiary of Salzgitter Stahl GmbH, West
 - 57,000-13.5% pref. shares redeemed.  Equity shares sub-divided on
 5.1.1990.  8,590 No. of equity shares of Rs 10 each issued (prem. Rs
 30 per share) in part conv. of 12.5% debs. (Part B)> 
 - The Company entered into an agreement with Cummins Engine Company
 Inc. USA for forming a 50% - 50% joint venture to produce fuel
 efficient engines with low-commission characteristics for powering
 the Company's range of Medium/heavy vehicles.  The Company was
 incorporated in October 1993.  Its factory is to be established at
 - A new model of earthmoving equipment the TWK-3036 Tata Front End
 Wheel Loader was introduced. 
 - 57,000 - 13.5% pref. shares redeemed.
 - During the year the company entered into a collaborative agreement
 with an internationally renowned engine research and development
 organisation to jointly develop higher horsepower, fuel efficient
 diesel and petrol engines to meet the future requirements of the
 - The last quarter saw the company launching two new passenger
 vehicles, the SIERRA and the ESTATE totally designed and manufactured
 in India.  The company acquired a BIFR company, M/s Noduron Founders
 Maharashtra Ltd.  The total cost for Telco worked out to Rs.18 crores
 as against setting up of similar critical castings foundry.
 - During the year company launched a new earth moving equipment
 TWK-3036 Tata Front End Wheel Loader. 
 - During February 1991 the company issued 207,34,603-12.5% secured
 partly convertible debentures of Rs.150 each on rights basis to the
 equity shareholders in the ratio of 5. Additional deb.  30,65,092
 were allotted to retain oversubscription.  Simultaneously 10,36,730
 deb were
 offered to employee s and an additional issue of 1,55,510 deb was
 made to retain oversubscription.  All deb. were alloted on 25 April
 1991. Part `A' of Rs. 50 was to be converted into 1 equity share of
 Rs 10 each at a premium of Rs 40 per share at the end of six months
 from the date of allotment.  The balance of Rs.100 of part `B' of
 each debenture would be redeemed at the end of the 8th year from the
 date of allotment. 
 - All Pref. Shares redeemed.  248,24,008 equity shares allotted in
 conversion of debs. (3,340 shares-prem. Rs 30 per share; 27,60,868
 shares (fully paid) prem. Rs 40 per share and 220,59,800 shares
 (partly paid) prem. Rs 20 per partly paid share.
 - Two new models in the EX series of hydraulic excavators were
 launched.  A 10 tonne pick and carry articulated crane, designed and
 developed in-house was also introduced.
 - During this period two new models in the EX series of hydraulic
 excavators were launched.  And a 10 tonne pick and carry articulated
 crane, designed and developed in-house was also introduced.  With the
 help of Hitachi Construction Machinery Co.  Ltd., EX-400 model
 Hydraulic excavator  was introduced during the year.
 - The Company undertook to estabish a joint venture with
 Mercedes-Benz to manufacture automobile products for sale in India
 and to meet the needs of export markets.  The project also included
 the possibility of manufacture of a Mercedes Benz passenger car for
 the domestic and foreign markets.  Mercedes-Benz India Pvt. Ltd., was
 incorporated on
 November 1994 which commenced initial assembly of cars in March 1995.
 - During the year company entered into an agreement with
 Nachi-Fujikoshi Corporation, Japan to manufacture arc and spot
 welding robots suitable for automobile manufacturing applications.
 - During the year, company undertook to set up a joint venture with
 Asian Glass Co. Ltd., Japan to manufacture float glass to be used as
 wind shields for automobiles.  ACC along with Tata Exports Ltd.,
 participated in the joint venture.  The joint venture named as
 Floathlass India Ltd., the Company would have a stake of 16.33%.
 - Tata Cummins Ltd., Mercedes-Benz (India) Ltd., Tata Holset Ltd.,
 Tata Precision Industires, Singapore and Nita Company Ltd., are the
 joint Ventures of the Company.
 - 1,83,823 equity shares allotted without payment in cash to members
 for Noduron Founders Ltd. on its merger.  Another 1,54,809 equity
 shares allotted (prem. Rs.40 per share) in conversion of debentures.
 - Production of MCV's commenced at Lucknow.
 - During the year company introduced the Tata full forward 609 LP bus
 and Tata 609 SFC semi forward version.  It was proposed to introduce
 new four cylinder petrol engine during mid 1995.
 - During the year Telco entered into an agreement with Cummins Engine
 Company Inc. USA for forming a 50%-50% joint venture to produce fuel
 efficient engines with low-commission characteristics for powering
 the Company's range of Medium/heavy vehicles.  Its factory is to be
 established at Jamshedpur for an annual output of 67,000 engines.
 - Tata vehicles were launched in Argentina Chill, Paraguay etc.
 - Joint Venture Agreement signed with Cummins Engine Co.
 manufacture high horsepower and emission-friendly diesel engines for
 medium and heavy commercial vehicles.
 - During the year company introduced the Tata SUMO and LPT 709.
 Thecompany developed a new fuel injected, 4 cylinder petrol engine
 withthe assistance of AVL Austria.
 - During the year company manufactured 4 basic robot for spot
 welding, sealant application and arc-welding.  Also manufactured a 3
 axis copy milling machine, a 2 station 2 spindle fine boring machine
 and a crank pin milling machine.
 - On 22nd April an agreement was entered into between Daimler-Benz AG
 and Merceded Benz India to manufacture `E' Class paneyer cans and
 engines in India.  The project is to be located at near Telco's
 factory in Pune with capacity to manufacture 20,000 cars and 30,000
 - Tata Technologies (India) Ltd., Sheba Properties Ltd., and
 Matruchhaya Capital and Finance Ltd., are all subsidiaries of the
 - On September, the company jointly with Tata Exports Ltd., and Tata
 Industries Ltd., signed an agreement with Holset Engineering Ltd. UK
 to set up a joint venture company to manufacture Holset
 turbochargers. Accordingly Tata Holset Private Ltd., was established
 on 20th December. 
 - During the same year a new foundry was commissioned at Pune to
 produce high pressure die cast and granting die-cast aluminium
 components for automobiles.  Production commenced from March. 
 - During July, the company offered 36,11,758 Global Depositary shares
 and 36,11,758 warrants along with international units purchase 1 Each
 warrant entitiled the holder to share of US $ 15.46 (Subject to
 adjustment in case of bonus/Right issue) during the period of 8th
 - Effective 25th July, the Company allotted 82,14,288 shares of Rs 10
 each against the GDRs.
 - The Company successfully launched high performance, low emission
 and fuel efficient medium commercial vehicles with cummins engines in
 Kuwait, Kenya, Zambia and Ghana.
 - The Company also proposed to introduce vehicles with cummin engines
 in the heavy commercial vehicles segment.
 - Taking advantage of the broad banding policy announced by the
 Government of India, the Company entered into a collaboration
 agreement with Honda Motor Co. Ltd., Japan, for the manufacture of
 their `ACCORD' model of cars in India.
 - A shovel version of model EX 300 LC was introduced.
 - A 6 tonne mini excavator was launched.
 - On 22nd April, an agreement was entered into between Daimler-Benz
 AG and Mercedes Benz AG, Germany to setup a joint venture company
 Mercedez-Benz India to manufacture `E' class paneyer cans and engines
 in India.
 - Tata Technologies (India) Ltd., Sheba Properties Ltd., and
 Matruchhaya Capital and Finance Ltd., are all subsidiaries of the
 - 82,14,288 shares allotted against GDR. 
 - During the year a new double pick-up and Army Version of various
 Telco Vehicles were developed.  A new pero engine and turbo diesel
 engine, an up-graded 709 LCV, new sports utility vehicle Safari
 expected to be launched shortly.
 - A 25 tonne 6 X 2 truck and a bus with cummins engine were
 - Tata Engineering and Locomotive Company (TELCO), has acquired a
 second hand paint shop, machine line and cylinders from the
 Australian unit of the Japanese auto giant, Nissan.  TELCO is
 believed to have picked up the unit for Rs. 70 crore.  The total cost
 of import duty
 would be Rs 100 crore. 
 - During the year a machine tool division was expanded so as to
 double its machine building capacity and significantly reduce
 production times.
 - During December, company issued 58,86,697 warrants to Tata
 Companies and Daimler Benz AG with a right to subscribe to one
 ordinary share per warrant at Rs.362 per share before 27th. 
 30,84,414 shares were allotted.
 - 860,49,140 bonus shares issued in prop. 3:5, 187,73,487 No. of
 equity shares allotted on exercise of warrants. 
 - A new double pick-up and army version of various Telco Vehicles
 were developed.
 - TELCO has decided to launch a new indigenous family car, by the
 middle of 1996.  The company seeks to manufacture a 900cc engine car.
 The car would cater to the domestic as well as the export market.
 Initially, a production of 150,000 cars is envisaged.  The
 would be significantly increased in the next few years, to make TELCO
 , the largest producer of small engine cars in the country. 
 - During the the company introduced the 70-tonne Tata-Hitachi Ex-700
 Shovel, the largest in the value of Ex series of hydraulic excavation
 fielded by Teleco.  Also, a back-hoc version of Ex-400 model was
 launched and the Ex-300 LC model was specially modified for use in
 granite mining operations.
 - During the year a new collaboration agreement was signed with
 Nachi-Fujikshi Corporation, Japan to manufacture and advanced
 generation of Robots.
 - The Company allotted 140,35,086 No. of equity shares of Rs 10 each
 through Global Depositary Receipts (GDR's) in the international
 market aggregating US $200 million.
 - The Company has launched Tata Safari in its Multi utility vehicle
 -Tata Holset's turbo charger plant inaugurated on November 25, 1996.
 - To meet the planned long-term capital requirement of funds, the
 Company issued unsecured 10 year Yankee Bonds totalling US $ 200
 million in the overseas market in July 1997.
 - To meet its working capital needs, the Company issued Commercial
 Paper (CP) of Rs. 300 crores for the first time.  The CP programme
 was given the highest rating of `A1 +' by the Investment Credit
 Rating Agency (ICRA).
 - In November 1997, the Company made a private placement of 7-year
 Secured Non-Convertible Debentures of Rs. 115 crores @ 12.25% - one
 of the lowest rates for any such issue in the market. 
 - The Company made into auto related joint ventures promoted by Tata
 Industires Ltd., viz., Tata Auto Comp Systems Ltd., and Concorde
 Motors Ltd. (CML).  CML estabished in associations with Jardine
 Matheson Group, Hongkong would set up showcase dealerships in India
 for retaining automobiles.
 - A new information technology company, Tata Technologies (India)
 (TTIL), providing solutions to engineering, manufacturing and
 distribution industries has been set up as a subsidiary of Telco. 
 - The Tatas are all set to establish a unit for producing trucks and
 earth moving equipment at Dharwad. 
 - The Tata Engineering and Locomotive Company Ltd. (TELCO) has
 emerged as numero uno in the Review 200 survey conducted by the Far
 Eastern Economic Review in association with Citi Bank. 
 - Telco proposes to develop and produce various new models at an
 investment of Rs.20 billion over the next few years.
 - Automobile giant Telco will be installing an electronic data
 interchange (EDI) network that will connect the Telco plants, with
 its vendors.
 - The Tata Engineering & Locomotive Company (Telco) will pick up a
 7.2 per cent stake and ACC Ltd 18.8 per cent in the revised equity
 structure of Bridgestone-ACC, thus paving the way for a fresh round
 of speculation on whether the cement major is actually out of the
 - Telco became the first Indian private company to reach the sales of
 Rs.10,000 crore.
 - Telco has entered into an alliance with Bridgestone to promote a
 new company, in which Bridgestone will hold a 51 per cent equity
 stake, to manufacture automotive tyres.
 - The company will set up a 1.5-lakh per annum capacity car unit. 
 The proposed plant will be part of a comprehensive facility being set
 up by Telco which will have flexible lines capable of manufacturing
 the small car, the Sumo and other models which are being worked out.
 - Telco's collaboration with John Deere is for the manufacture of 2.5
 cum backhoe loaders which the company proposes to introduce in
 domestic markets later this year.  The company's technical agreement
 with Hitachi is for the manufacture of a 60-tonne hydraulic excavator
 is slated to hit the market this year itself 
 - The agreement with Le Moteur Moderne is for the development of
 diesel and petrol engines for its passenger car project.  With
 Nachi-Fujikoshi, Telco plans to make an advanced generation of robots
 to be used to weldline for the manufacture of Bodies-in-White (BIWs)
 and to perform other operations during the manufacture of small cars
 to ensure quality, accuracy, and fatigue-free high volume production.
 - Telco's $200-million Yankee bond issue has been awarded a NAIC 2 by
 the insurance companies rating standard in the United States.  Telco
 is only the second Yankee bond issue from India after Reliance
 Industries and is the country's lowest-priced international bond. 
 Telco is rated Baa3 by Moody's and BB+ by Standard & Poor's, which
 are also India's
 sovereign ratings.
 - The Tata Engineering & Locomotive Company (Telco) management has
 signed a wage agreement with the Telco Employees' Union at the
 Pimpri-Chinchwad manufacturing facility conceding a wage hike of
 Rs.1,701 per month.
 - The Karnataka plant is being set up to build special purpose and
 heavy duty vehicles.  It will, however, initially assemble company's
 4,021 trucks and earth moving equipments and excavators. 
 - Telco is showcasing its sportscar `Telsport' 4X4 for the first time
 at the fourth Middle East International Show opening at Dubai on
 - Telco is the second Indian four wheel maker after Mahindra and
 Mahindra to participate in the show which has attracted 200
 exhibitors from 28 countries including world market leaders like BMW
 and Mercedes. 
 - Telcosport will be TELCO's first entrant in the passenger vehicle
 segment to be followed by a five-door SUV in the later part of next
 - The Industrial Credit & Investment Corporation of India (ICICI) has
 entered into a Rs 167-crore structured deal with Telco.  This is the
 largest asset securitisation deal in the country.
 - Tata Industries Ltd (TIL) is setting up a 50:50 joint venture in
 alliance with Jardine International Motors Ltd (JIML) for
 establishing an automobile retail and after-sales service company
 which will operate dealerships for Telco passenger cars in certain
 cities in India.
 - The Company introduced a 9-tonne vehicle which was well received in
  the market.  A 40 tonne tractor trailer powered by a Tata Cummins
 Engineering was introduced.
 - The Company developed a low floor bus chassis to meet the specific
 needs of urban transport. 
 - The Company signed a new agreement with Hitachi for manufacture of 
 upgraded versions of existing range of excavators.
 - Telco proposes to set up authorised service stations every 100 km
 on every highway.
 - Telco is proposing to commercially produce compact, efficient and
 economically viable vehicles which use alternative fuels within the
 next two years.
 - The Tata group has signed a joint venture with Jardine
 International Motor Mauritious (JIMM) to establish a passenger car
 dealership network in the country.
 - Jardine International Motors (JIM), which recently set up a
 Rs.86-crore joint venture vehicle dealership network, called Concorde
 Motors Pvt. Ltd, in league with Tata Industries and Telco, has shown
 interest in representing the latter in export markets.
 - Tata Engineering and Locomotive Company Ltd (Telco) announced a
 tie-up with Tata Finance Ltd and ANZ Grindlays Banks as the official
 financiers for its small car Indica to be launched in December. 
 - Tata Engineering Locomotive Company Ltd (Telco) is selling its
 construction equipment business into a new subsidiary company, Telco
 Construction Equipment Company Ltd.
 - The Company in its small car segment has launched Tata Indica which
 evoked an overwhelming response in the Indian market. 
 - A new range of cummins engine powered vehicle which include a 35
 tonne and a 40 tonne articulated truck and two variants of buses. 
 - To make substantial improvement in the quality of bus bodies
 available with TATA vehicles, the Company encouraged a collaboration
 between Fuji Heavy Industries of Japan and the Automobile corporation
 of Goa.  The new project undertakes production of bodies on TATA
 chassis, conforming to the most exacting international standards.
 - Concorde Motors Ltd., a Joint Venture between Tata Engineering and
 Jardine International Motors (Mauritius) Ltd. was appointed as dealer
 for the Company's passenger cars in several cities across the country,
 in Feb 1998.
 - Telco is the first Indian manufacturer to offer commercial vehicles
 meeting euro-I emission norms, a year before they are due to be
 introduced in the country.
 - It is proposed to make TCECL a one-stop shop for construction
 equipment and earthmoving machinery.
 - TATA Engineering and Locomotive Company Ltd (Telco) will receive a
 consideration of Rs 200 crore as equity and share premium and the
 rest as loans valued at Rs 400 crore from the sale of its
 construction equipment division.
 - In Oct 1999, the Company won the National award for R&D Efforts in
 Development of Indigenous Technology in the Mechanical Engineering
 Industries Sector instituted by Department of Scientific and
 Industrial Research, Ministry of Science and Technology for the year
 - The company obtained shareholders' approval for hiving off the
 division into a 100 per cent subsidiary, Telco Construction Equipment
 Company Ltd (TCECL), at an extra general body meeting (EGM) held here
 in Mumbai today.
 - Tata Engineering & Locomotive Company Ltd. Spun off into a joint
 venture company, the CEBU would be able to make a range of products,
 besides maintaining dominant market share in existing products. 
 - Tata Holset is a 50:50 joint venture between Telco and its foreign
 - SKF Bearings India Ltd has signed an agreement with Telco to supply
 hub bearings for its latest model Tata Indica.
 - Telco presently has a joint venture with Daimler-Chrysler in India,
 Mercedes Benz India, which manufactures the top-of-the-line Rs 26 
 lakh-plus Mercedes Benz E Class.  Telco has reduced its stake in the
 venture to around 14 per cent.
 - Tata Technologies, a Telco subsidiary, has launched a value chain
 management (VCM) system designed to enable value-based interaction
 between business partners and manufacturers. 
 - Machine Tools and Growth Divisions, Axle Division and Transmission
 Division of Tata Engineering transferred to newly formed subsidiaries
 Telco Automation Ltd., HV Axles Ltd.
 - The Company has declared a lockout at its Lucknow plant following
 employee unrest and policy firing.  Employees have been demanding
 parity in wages with their counterparts in the Telco establishments
 at Jamshedpur and Pune.
 - The Company is working towards introducing two new petrol-driven
 variants of its small car Indica, powered by a multi-point fuel
 injection engine.
 - The Company has launched the Indica 2000, the Euro II Complaint, 75
 BHP multi-point fuel injection (MPFI) version of Indica. 
 - The Company has won the National Technology Award for indigenous
 development and commercialisation of the Tata Indica car.
 - The Company has launched its new hi-tech Indica 2000 car with MPFI
 petro engine in Guwahati. 
 - Tata Engineering is all set to become the first company in the
 group to offer ESOPs to employees.
 - The Engineering is exploring marketing tie-up with global
 automobile firms.
 - The Company is decentralising the marketing operations of its
 commercial vehicle business.
 - The Company has shut down its commercial vehicles assembling unit
 at Lucknow following persistent labour problems.
 - Telco has decided to defer the launch of its mid-sized passenger
 car, Magna, to around June 2002.
 - Tata Engineering & Locomotive Co., is renamed as Tata Engineering
 Ltd.  It has replaced its three-shift production line with a
 one-shift daily schedule starting from 26th June.
 - The Company has launched a programme `Super bazar' for owners of
 commercial vehicles whereby they can get their vehicles evaluated on
 the spot as to present value and investment required for upgradation.
 - The Company has appointed ICICI as a preferred financier for
 customers buying its range of vehicles, including the Indica. 
 - Tata Engineering has seen a marginal increase in its market share
 in the utility vehicle segment to 26.1 per cent for the period
 - R B Khadikar, vice-president of engineering centre, telco has been
 presented the outstanding automobile engineer of the year award for
 - The five-month-old lockout in the Lucknow unit of heavy automobiles
 giant Tata Engineering and Locomotive Company has been lifted an
 agreement between he management and employees. 
 - ICRA has revised the rating assigned to the Rs 600-crore long-term
 NCD programmes of auto majorTelco from `LAAA', indicating highest
 safety to `LAA+' indicating high safety.
 - FICCI-SEDF- Businessworld-Compaq award for social responsiveness
 was awarded to the company.
 - The Central Pollution Control Board for Environmental Technology
 award has been presented to Tata Engineering in recognition of its
 contributuon towards efforts to conserve the environment. 
 - The Premier vehicle manufacturer of the country, TELCO, has closed
 down its unit for maintenance for seven days from 27th November for
 the first time in its 47-year history.
 - Tata Engineering has joined hands with Daimler-Chrysler, the
 world's third largest auto conglomerate, forming a consortium to bid
 for an order of 60,000 light commercial vehicles from the South
 African government.
 - V Krishnan has been appointed as Vice-President of Telco.
 - The Company has bought a group pension insurance scheme for its
 employees from the Life Insurance Corporation.
 - Tata Engineering has decided to go in for a strategic alliance with
 world leaders of engines, gearboxes and axles.
 - Crisil has downgraded the Rs 177 crore non-convertible debenture
 (NCD) issue of Tata Engineering to AA from AA+.
 - Despite the slowdown in demand, Telco is targeting an 18 per cent
 growth in its passenger car and utility vehicle volumes in the
 current fiscal.
 - Telco and PSA Peugeot Citroen have called off the proposed venture
 for developing a mid-size passenger car.
 - TATA Engineering on September 10 announced the addition of MPFI
 petrol version to the Indica V2 range. The model will be available at
 an ex-showroom price beginning Rs 3.22 lakh outside Mumbai. 
 - Tata Engineering and Locomotive Company, passing through its most
 difficult phase in recent years, is planning to raise about Rs 300
 crore through the sale of investments.
 -Foreign Institutional Investors (FII) hike stake in the company to
 -Launches six new products in light, medium and heavy vehicles
 segments  on Jan 15 during Auto Expo
 -Announces financial restructuring
 -Displays its Tata Sedan car at the Geneva Motor Show
 -Indica adjudged top selling B-segment car in 2002
 -Launches two new motorsport cars (The Zero and Double Zero Pace
 -High Court Approves Tata Engineering's Financial Restructuring
 -Tata Engg, BPCL tie up to market co-branded lubricants
 -Tata Steels investment in Tata Engineering has been hiked to Rs
 117.98 crore over the last year
 -Telco names Sedan as Tata Indigo
 -Unveils 'EX' series of medium and heavy commercial vehicles
 -Signs agreement with Depository for two way fungibility of GDRs with
 Ordinary Shares
 -Begins work on its new second generation platform, which would
 replace the existing car with the utility vehicle platforms in all
 its products
 -Uses Tata Safari in Ram Gopal Varma's film 'Road', spends close to
 Rs 1 crore for the in-film product placement
 -Indica sales cross two-lakh mark
 -Collaborates with Nippon-Arcelor for technical knowhow on CR steel
 -Increases its equity in Concorde Motors to 49%
 -Mops up Rs 100 cr through debenture issue
 -Unveils the 207 DI, the first of its small commercial vehicles (SCV)
 in Maharashtra with a focus on the LCV segment
 -Launches new range of Tata Safari
 -Acquires 5.91% stake in Tata Precision Industries Pte Ltd.,
 Singapore, taking the stakeholding in the company to 49.99%
 -Ties up a manufacturing & supply agreement with MG Rover Group of
 the UK
 -Floats division to develop used car market
 -Releases medium size segment car Indigo in Andhra Pradesh
 -Unveils Tata 207 DI in Andhra Pradesh
 -Telco's sedan debutes at the top of the C-segment sales
 -Receives Teri's (The Energy and Resources Institute) CoRE-BCSD
 (Corporate roundtable on development of strategies for sustainable
 development and environment-business council for sustainable
 development) corporate social responsibility (CSR) awards for '01-02
 -Brings down price of passenger car following the excise duty
 reduction in the Budget
 -Unveils Indigo Station Wagon at the Geneva Auto Show
 -Signs distribution agreement with Rover for Safari in UK
 -Standard & Poor's Ratings Services revises the outlook on its `BB-'
 rating for Tata Engineering to stable from negative
 -Overtakes Hyundai in passenger vehicle market
 -Unveils 'Tata 207 DI' in Delhi
 -For the first time in the auto industry, Tata Engineering outsources
 the manufacturing activities of its special, fully-built vehicles
 range that includes ambulances, tippers produced at Dharwar unit in
 -Company turns around, posts profit of Rs 300.11 crore as against the
 loss of Rs 53.73 crore the previous corresponding period
 -Unveils 'Tata 207 DI' in Mumbai
 -International Finance Corporation (IFC), the private lending arm of
 the World Bank,  inks $50 mn loan agreement with Telco
 -Company name changed from Tata Engineering & Locomotive Company Ltd.
 (Telco) to Tata Motors Ltd. (TML) with effect from July 29, 2003
 -Successfully completes Foreign Currency Convertible Bond offering
 aggregating $90 million with a green shop option of $10 million
 -Issues 1% convertible notes due 2008
 -Tata Motors, IOC tie-up for joint marketing services
 -Unveils a customer care campaign called Project Vishwaas for its
 commercial customers across the country
 -Crosses production milestone of 3 million
 -Unleashes Safari's petrol version; priced at Rs 9.35 lakh
 -Unveils CityRover
 -Tata Motors Ltd signed a binding Memorandum of Understanding (MoU)
 with Deawoo Commercial Vehicle Company Ltd (DWCV), Korea for the
 acquisition of this company.
 -Introduces Tata SFC 407 EX Turbo Light Commercial Vehicle (LCV)
 - The Company shall be changed from 'TELCO ' to 'TATAMOTORS' w.e.f
 December 24, 2003.
 -Tata Safari ranks No 1 in MUV/SUV segment
 -Tata Motors launch an upgraded version Indica on January 15, 2004,
 in a bid to shore up sales of the small car.
 -Auto Expo: Tata unveils new version of Indica
 -Tata Motors unveils Indica V2
 - Tata Motors launches new Indica V2 in Kerala
 -Tata Motors introduces new 'Indicab' for tour operators
 -The much hyped Rs one lakh passenger car project of Tata Motors was
 going ahead as planned.
 -Tata Motors in talks with bus body builders to franchise
 -Tata Motors enters agreement with Ukraine bus building firm
 -Tata Motors enters into agreement with Etalon
 -In a move to consolidate its presence in the light commercial
 vehicles segment, Tata Motors has launched a new variant of its 407
 series with increased pay load capacity called SFC 407EX.
 -Tata Motors buys Daewoo truck unit for Rs 465 crore
 -Tata Motors unveils Tata SFC 407 EX in Kerala
 -Tata Motors inks agreement with Austrian, French companies
 -Acquires Daewoo Commercial Vehicle Company Ltd (DWCV), Korea.
 -Tata Motors launches new 6-tn truck
 - Tata Motors forays into used truck biz with Tata Preowned
 -Tata Motors, the country's largest commercial vehicles manufacturer
 unveiled the new LPT 909EX Turbo Truck in Tamil Nadu.
 -Tata Motors and Tata Africa unveiled a range of passenger cars,
 utility vehicles, pick-ups, trucks and buses for the South African
 -Tata Motors has launched a facelifted version of its multiutility
 vehicle, Tata Sumo
 -Tata mototrs rolls out Tata SFC 407EX BS II turbo light commercial
 - HR-training division of Tata Motors bags the prestigious and
 internationally recognised Golden Peacock National Training Award in
 the category of `Large Employer'.
 -Tata Motors launches Indigo Marina on September 14, 2004
 -Tata Motors joins hands with Magma Leasing Ltd
 -Bharat Petroleum Corporation Ltd (BPCL) has entered into a marketing
 tie-up with automobile manufacturer Tata Motors for marketing of
 engine oils as co-branded lubricants for their commercial vehicles
 -Tata unveils Indigo Marina in Kerala
 -Andhra Bank ties up with Tata Motors
 -Tata Motors unveils 2 new versions of Indica
 -Tata Motors has tied-up with Corporation Bank to offer finance
 options for passenger car vehicles at nine per cent interest for a
 three repayment period and 9.5 per cent interest for five year
 -Tata Motors on December 7, 2004, signs an MoU with State Bank of
 India (SBI)
 -Tata Motors inks agreement with Hispano Carrocera for 21 pc stake
 -Tata Motors & Hispano Carrocera SA sign Investment Agreement
 -Tata Motors partners with IOC for bio-diesel pilot project
 -Tata Motors launches ACE
 -Tata Motors unveils Tata Safari DICOR in Kerala market on August 11,
 -Tata Motors rolls out 2 luxury variants of Indigo
 -Sumantran quits Tata Motors
 -Tata Motors unveiled new Indica V2 Turbo with a price tag of Rs 4.10
 lakh for DLG variant and Rs 4.31 lakh for DLX
 -Tata Motors unveils Novus
 -Tata Motors ropes in CVTech to make parts for its small car
 -Tata Daewoo inks pact with Pakistan co.
 -Tata Motors launches Cliffrider
 - Tata Motors unveils new long wheel base premium Indigo & X-over
 concept at Auto Expo 2006 
 - Indica V2 Xeta launched 
 - Passenger Vehicle sales in India cross one-million mark 
 - Tata Motors and Marcopolo, Brazil, announce joint venture to
 manufacture fully built buses & coaches for India & markets abroad 
 -  Tata Motors has been presented the Golden Peacock Global Award for
 Corporate Social Responsibility (CSR) in the Large Business category
 by the Institute of Directors.
 - Tata Motors buys Nissan facility in S. Africa.
 - Tata Motors has got a prestigious order from the Delhi Transport
 Corporation (DTC) for 500 non-AC, CNG-propelled buses.
 - Tata Motors Ltd has appointed Mr. P M Telang as Executive Director
 (Commercial Vehicles).
 - Tata Motors Ltd has informed about the appointment of Dr. R A
 Mashelkar, Independent Director as an Additional Director of the
 Company with immediate effect.
 - Tata Motors has rolled out  the Sumo Victa Turbo DI, the new
 advanced range of its entry-level utility vehicle, the Sumo Spacio.
 -Tata Motors signs deal with Chrysler electric vehicle unit.
 - Tata Motors launched out the new generation of its flagship
 passenger car Indica on Aug 23. The new model called 'Indica Vista'
 3.8 m long and 1.7 m wide is larger than the existing Indica and has
 more interior space than the original one.
 -Tata Motors Ltd Issues Rights in the Ratio of 1:6
 - Tata Motors has entered into an agreement with Andhra Bank for
 financing its range of passenger vehicles, which will provide an
 added facility of car finance to its customers.
 - Tata Motors Ltd has appointed Mr. V K Jairath, Independent Director
 as an Additional Director of the Company with effective from March 31,
 - Bank of India has entered into a pact with Tata Motors for
 financing Fiat cars, which are available through the Tata-Fiat dealer
 network. For availing the loans, the customers can get loans at
 special interest rates of 9.75 per cent to 10.25 per cent for loans
 up to Rs 10 lakh for the Linea, Palio and soon-to-be launched Grande
 - Tata Motors, one of the promoter group companies of Tata Steel, has
 pledged its entire holding of over 1.04 crore shares in the steel
 - Tata Motors on June 2 opened its brand new plant in Sanand, set up
 at a cost of Rs 2,000 crore, to manufacture wonder car Nano. The
 Sanand plant was inaugurated by Tata Group Chairman Ratan Tata and
 Gujarat Chief Minister Narendra Modi. According to Tata officials,
 the Sanand plant will have an initial production capacity of 2.5 lakh
 Nano cars a year, which will be gradually increased to 5 lakh cars a
 - IndusInd Bank and Tata Motors inked an agreement. As per the deal,
 IndusInd Bank will provide channel finance facilities to Tata Motors'
 dealers. Meanwhile, the dealers of Tata Motors will now have access to
 ready upstream finance from IndusInd Bank.
 - Tata Motors opened its new plant in Sanand which is set up at a
 cost of Rs 2,000 crore.
 - Tata Motors spread its wings further to the Asian markets by
 launching its mini-truck ' Ace Super City Giant .in Thailand and also
 unveiled plans to foray the Thai car market over the next couple of
 - IndusInd Bank Ltd and Tata Motors have entered into a pact under
 which IndusInd Bank will provide channel finance facilities to the
 dealers of Tata Motors
 - Tata Motors ties up with United Bank of India for CV finance
 - Tata Motors has signed a deal worth Euro 1.85 million (Rs 11 crore)
 for acquiring 80 per cent stake in Italy-based design and engineering
 company Trilix Srl.
 - Tata Nano Indias cheapest car has received an award by the Chicago
 Athenaeum: Museum of Architecture and Design with the European Centre
 for Architecture Art Design and Urban Studies for its design, as good
 design award 2010.
 - Tata has launched Aria 4x2 range targeting the premium luxury cars
 segment, priced at Rs. 11.85 lakh.
 - Tata launched upgraded Nano at same price
 - Tata Motors - Jaguar Land Rover PLC Launch of  pound 1,000 million
 equivalent Senior Notes offering
 - Tata motors announced to win an order of Rs 150 crore from
 Siddhivinayak Logistics Ltd (SVLL).
 - Tata Motors launched Nano in Nepal at Rs 5 lakh
 - Tata Motors launched new version of Manza
 - Tata Motors launched new Indica
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 - Auto giant Tata Motors appointed Cyrus P Mistry as the Deputy
 Chairman of the company, 
 - Tata Motors signed agreement with US company to develop engine for
 commercial vehicles
 - Tata Motors signed partnership with J&K Bank for financing car
 - Automobile giant Tata Motors Ltd has launched its new Sports
 Utility Vehicle (SUV) Tata Safari Storme at a starting price of Rs
 9.95 lakh (ex-showroom Delhi).
 - India's leading automobile maker, Tata Motors, has emerged as the
 most reputed Indian company in terms of service levels, product
 quality, financial performance and talent pool, as put by a survey by
 global research firm Nielsen.
 - The company won an order for 1,314 trucks from Surat-based Siddhi
 Vinayak Logistics.
 -Jaguar Land Rover Automotive plc Launch of $400 million Senior Notes
 -Tata Nano becomes the first Auto Brand in India to cross 3 million
 fans on Facebook
 -The Tata Indigo eCS enters Limca Book of Records
 -Tata Motors' Jamshedpur plant rolls out its two millionth truck
 -Tata Nano offered industry first phenomenon - Swipe your credit card
 and drive home a Nano
 -Tata Motors launches the world-class range of Tata PRIMA trucks in
 Sri Lanka
 -Tata Motors to launch MCV buses for intercity and staff
 -Tata Motors launches 6 new advanced Heavy Trucks & Tata FleetMan, in
 Northern India
 -Tata Motors conferred with the Indian Multinational of the Year
 -Tata Motors launches Commercial Vehicle Driving Centre in Singrauli
 -Tata Motors Ties up with Fusion Automotive to Enter Australian
 -Tata Motors launches 'Tata Motors Service' for passenger vehicles
 -New Nano 'Celebrate Awesomeness' TV commercial breaks record!
 -Tata Motors launches in Indonesia Three Strong Products
 -Tata Motors launches the brand new-look high-tech showroom in
 -Tata Motors introduces 'Learn & Earn Scheme', at technical
 institutes Mumbai & Gujarat
 -Tata Motors launches the New Nano Twist
 -Tata Motors launches 'REVOTRON' - All New Family of Next Generation
 Petrol Engines
 -Tata Motors unveils the All-New ZEST and the BOLT
 -America gears up for the 15th IIFA Weekend and Awards 2014 in Tampa
 -Tata Motors Launches SOUL
 -Tata Motors launches 'ZEST for Stardom', in association with IIFA
 -Tata Motors Launches 10 new Prima LX trucks for affordable yet
 modern trucking
 -Tata Motors launches the all-new Tata Aria
 -Tata Motors launches next-generation Tata PRIMA heavy trucks in
 -Tata Motors launches the all-new range of Tata ULTRA trucks
 -Tata Motors launches Safari Storme brand store on eBay India
 -Tata Motors launches the all-new Movus
 -Tata Motors enters Algeria with a range of passenger cars
 -Tata Motors bags orders for over 2700 buses under the JnNURM - II
 -Tata Motors showcase new products for its Municipal range at
 Municipalika 2014
 -Tata Motors launches Prima - the World Truck, in Nepal
 -Tata Motors has launched a special edition of Zest model
 -Tata Motors has launched Buszone an exclusive dealership for its
 buses to meet its rising demand for buses
 -Tata Motors has launched six models from its prima range of heavy
 commercial vehicles in Kenya
 -Tata Motors bags order for 1,200 trucks from Indian Army
 -Tata Motors has launched two variants of the Prima range of trucks
 in the UAE and three variants of the heavy commercial vehicles in
 -Tata Motors has inked a pact with Total Lubrifiants to supply high
 performance lubricants 
 -Tata Motors has made automotive history in Britain with the launch
 of Jaguar newest model XE
 -Tata Motors has inked a distribution and supply agreement with
 Vietnam TMT Joint Stock Company to mark its foray into the South East
 Asian country
 -Tata Motors in association with Manahil International Company has
 opened one of the largest automobile showroom and service facilities
 in Gulf.
 -Tata Motors inks 5-year agreement with Tata Technologies to leverage
 mutual strengths
 -Tata Motors - that Jaguar Land Rover (JLR) is planning to double the
 size of its Engine Manufacturing Centre (EMC) as part of a EUR 450
 million expansion programme
 -Tata Motors has issues rights to its existing shareholders in the
 Ratio of 6:109
 -Tata Motors launches lubricants with Petronas
 -Tata Motors signs contract with MMRDA to supply buses
 -Tata Motors bags order for 25 Hybrid buses from MMRDA
 -Tata Motors launches TIAGO
 -Tata Motors signs up Akshay Kumar as brand ambassador for CVs
 -Tata Motors generates employment opportunities for over 200
 candidates in J&K
 -  Tata Motors gears up to launch new compact sedan Tigor
 - Tata Motors partners with Microsoft for new car products
 -Tata Motors, Tata CLiQ join hands for online booking of Hexa
 - Tata Motors readies sports car for Geneva Motor show
 - Tata Motors develops first bio-methane bus
 - Tata Motors expands commercial vehicle range in Philippines
 - Tata call off alliance for joint development of cars
 - Tata Motors announces new corporate brand identity
 - Tata Motors launches urban edition Hexa at Rs 12.18 lakh
 - Tata Motors ties up with Jayem Auto to launch electric car
 - Tata Motors rolls out first lot of Tigor EVs from Sanand plant
 -Tata Motors launches new top of the line variant  Tiago XZ+
 -Tata Motors launches the new range of Intermediate and Light
 Commercial Vehicles in Bhutan.
 -Tata Nexon sets new benchmark in car safety
 Becomes the first and only car in India to achieve a full 5 stars
 adult safety rating from Global NCAP
 -Tata Motors launches the all-new Tata Tigor in Nepal
 -Tata Motors signs an MoU with Prakriti E-Mobility Private Limited to
 deploy Tigor EVs in New Delhi.
 -Tata Motors announces the launch of new generation Prima and Ultra
 trucks in Kuwait.
 -Tata Motors & IndianOil launch second Saarthi Aaram Kendra at IOCL
 -Tata Motors announces scholarship for 500 underprivileged students
 in Pune
 -Tata Motors introduces the Ultra T.7; Indias first truck designed
 specifically for urban transportation
 -Tata Nexon EV crosses 2000 sales milestone.
 -Tata Motors delivers 65 Nexon EVs to Keralas Motor Vehicle
 -Tata Motors Delivers All-New Winger Vaccine Vans in Gandhinagar,
 Strives to Support Government Vaccination Drive.
 -Tata Motors in association with Orange Group, launches its 3rd
 Showroom in Hyderabad.
 -Tata Motors delivers 60 Ultra Urban 9/9 electric buses to Ahmedabad
 Janmarg Limited.