Tata Motors Revs Up On Prospects Of Equity Assistance For Rover - Dec 22, 2008

Meanwhile, the BSE Sensex was down 19.32 points, or 0.28%, to 10,071.25.On BSE, 3.64 shares were traded in the scrip. The stock had an average daily volume of 6 lakh shares in the past one quarter.The stock hit a high of Rs 189.90 and a low of Rs 179.30 so far during the day. The stock hit a 52-week high of Rs 790.24 on 3 January 2008 and a 52-week low of Rs 122 on 20 November 2008.

The mid-cap stock had outperformed the market over the past one month till 19 December 2008, advancing 32.62% as compared to the Sensex's return of 15.11%. However it underperformed the market in the past one quarter, declining 57.60% as compared to the Sensex's decline of 28.08%.India's largest commercial vehicle maker by sales has current equity is Rs 514.29 crore. Face value per share is Rs 10.

The current price of Rs 186.40 discounts its Q2 September 2008 annualized EPS of Rs 35.99, by a PE multiple of 5.17.Tata Motors' American depository receipt jumped 11.54% on Friday, 19 December 2008 on the New York Stock Exchange (NYSE).The prospect of British government assistance worth to help keep Jaguar Land Rover afloat had helped the company's owners to secure last-minute funding from the banks, reports suggest.

Car makers around the globe have been hit by a collapse in demand as the economic slowdown spreads and access to credit is choked off by the financial crisis. US President George W Bush unveiled a $17.4 billion rescue loan for US car makers General Motors and Chrysler on Friday, 19 December 2008.Tata Motors which bought the luxury carmaker earlier this year for $2.3 billion from Ford Motor Co, has already pumped in a lot of funds for working capital requirements of the British unit.

Tata Motors' total vehicle sales declined 30% to 32,696 units in November 2008 over November 2007. The company unveiled the monthly sales data after trading hours on 1 December 2008.Tata Motors' net profit fell 34.1% to Rs 346.99 crore on 6.6% increase in net sales to Rs 7029.33 crore in Q2 September 2008 over Q2 September 2007.Tata Motors is engaged in manufacturing and marketing heavy, medium and light commercial vehicles, utility vehicles and passenger cars.