Sensex Rallies 558 Points, Nifty Ends Above 14,650; Hindalco & Tata Steel Surge Over 4%

"The lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. Hence, the company has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers, and suppliers," Tata Motors said in an official statement.

The company further added, "By carefully calibrating and matching supplies with retail demand, Tata Motors shall ensure that optimal levels of inventory are maintained with dealers to meet whatever customer demands arise and also be prepared for a rebound in demand once the situation returns to normalcy".

It will also continue to review and plan for the critical raw materials to cater to this volatile demand outlook and work closely with its vendor partners to meet the same.

In March 2021, Tata Motors' total domestic market sales increased by 504.9% to 66,609 units. The automaker had sold 11,012 units in the domestic market in the year-ago month.

The company sold 29,654 units of passenger vehicle (PV) in March 2021, compared to 5,676 units in March 2020.

Tata Motors sold 36,955 units of commercial vehicle (CV) in March 2021, compared to 5,336 units in the same month last year.

Tata Motors' share price ended the day up by 2% on the BSE.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

Moving on to news from the finance sector...

SBI Cards Share Price Surge After Reporting Strong Q4 Results

On 26 April 2021, SBI Cards and Payment Services reported a profit after tax (PAT) at Rs 1.8 billion in the January to March quarter, up 110% from Rs 840 million in the corresponding period of the previous fiscal.

The return on average assets came at 2.6% in Q4 FY21 versus 1.3%, while the return on average equity was at 11.2% versus 6.5% in Q4 FY20.

The capital adequacy ratio was 24.8%, compared to 22.4% in Q4 FY20. As per capital adequacy norms, the company's capital to risk ratio consisting of tier one and tier two capital should not be less than 15% of its aggregate risk-weighted assets on the balance sheet and of the risk-adjusted value of off-balance sheet items.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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