Tata Motors global sales at 102,337 vehicles in Nov
Tata Motors, part of the salt-to-steel Tata Group conglomerate, reported global wholesale sales of 102,337 vehicles in November. Sales at its key Jaguar Land Rover subsidiary stood at 34,649 vehicles during the month. Overall passenger car sales stood at 53,089 vehicles, the company said in a statement. It sold 49,248 commercial vehicles during November. Tata did not give figures for the same month a year earlier.
Mistry appointed Tata Chemicals chairman
The board of directors of Tata Chemicals announced the appointment of Cyrus P Mistry as the chairman of the board with effect from December 28, on Ratan Tata’s retirement. The board conferred on Tata the honorary title of chairman-emeritus. Last month, Tata had stepped down as chairman of Tata Global Beverages, making way for Mistry.
Eros plans to chase Hollywood’s investors
Eros International, the distributor of Bollywood’s most-expensive film, is reviving a plan to sell shares in the US as it seeks valuations similar to Hollywood studios such as Lions Gate Entertainment. Eros plans to withdraw its shares from London’s Alternative Investment Market and list on the New York Stock Exchange, chief financial officer Kamal Jain said. The shares have dropped 2% on the AIM this year, compared with a 6.5% gain on the Financial Times-Stock Exchange AIM Media Index, of which Eros is the biggest component. The number of companies listed on the AIM has dropped 34% in five years.
Cartelisation: TDSAT asks Airtel, Voda to respond
TDSAT on Friday directed Bharti Airtel and Vodafone to file their replies on maintainability of a petition filed by an NGO alleging that the telecom players were charging 10 paise SMS termination fee in a “cartelised manner”. A single-member TDSAT bench asked both operators — Bharti Airtel and Vodafone — to file a short reply over NGO Telecom Watchdog’s petition alleging that they “are doing this illegal activity in a cartelised manner”. However, during the proceedings, counsel appearing for Vodafone questioned the maintainability of Telecom Watchdog’s petition. The tribunal has asked the telecom operators to file their reply in three weeks and listed the matter on January 11, 2013, for hearing on its maintainability.
IndianOil retains top rank in Fortune 500 India list
State-run IndianOil is the biggest company in terms of revenue, followed by Reliance Industries, according to the Fortune 500 list of Indian companies for 2012. This year’s list of the country’s 500 largest corporations, compiled by the business