Tata Motors on Tuesday roped in Bollywood star Akshay Kumar as brand ambassador for its commercial vehicle (CV) business unit.

"Indian cinema's 'original Khiladi' will make his blockbuster entry in this new role at the launch of Tata Motors' latest offering in commercial vehicles, slated in January 2017," the company said in a statement.

Having fulfilled the commitment of returning land to the farmers of Singur, the West Bengal government is planning to auction the metal scrap and car sheds of Tata Motors lying at the stackyard in Singur, Hooghly.

“An internal assessment is being done to set a reserve price,” government officials said. The assessment is expected to be completed by December and the auction could be done sometime in January. When asked, a Tata Motors spokesperson said: “We do not have any comments on this at the moment.”

Benchmark indices continue to trade in a narrow range with negative bias weighed down by metal and oil shares.

At 12:15 pm, the Nifty 50 index was trading 14 points lower at 8,140 levels, while the S&P BSE Sensex as trading 26 points lower at 26,493 levels. Broader markets are underperforming- BSE Midcap and Smallcap indices are down 0.1%-0.4%.

Automobile major Tata Motors on Monday said it will hike the prices of its passenger vehicles from between Rs 5,000 and Rs 25,000 due to the impact of various macro-economic factors.

The price increase will be effective from January 1.

Tata Motors, India’s biggest commercial vehicle manufacturer, is keen to enter the load aggregator space, after the sector saw its first corporate action a year ago with the entry of Mahindra & Mahindra, the country’s second-biggest CV maker.

A senior company official said that given Tata Motors’ large and loyal consumer base it makes business sense to tie up with its clients for providing this add-on service. Tata Motors is exploring the idea of making an equity investment in a start-up for which it is already talking to a few companies.

NEW DELHI: Tata Motors snatched a small lead over Mahindra & Mahindra as the third-largest passenger vehicle seller in India, in November, on the back of Tiago sales.

According to sales data received from industry sources, Tata Motors sold 12,736 units in November compared with 12,707 units sold by Mahindra & Mahindra in the same period.

Hardening their position against Tata Sons, ousted chairman Cyrus Mistry and independent director Nusli Wadia, who has been backing him, will contest the proposal to remove them from the board of Tata Motors by making separate representation to "members of the company".

In a regulatory filing, Tata Motors said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.

Tata Motors has called an extraordinary general meeting (EGM) on December 22 to seek shareholders' approval for removing Cyrus Mistry and Nusli Wadia as directors of the company.

Ousted from Tata Sons, Mistry continues as Chairman of the group firms like Tata Motors and Tata Chemicals.

Tata Motors became the first company in India to introduce liquefied natural gas-fuelled bus in Kochi recently. As it awaits a final notification from the government recognising LNG as an automotive fuel, the company sees a big market for these vehicles, especially in coastal areas with good connectivity to LNG terminals.

Speaking to Business Standard, Ajit Jindal, head, engineering, commercial vehicles, passengers, said LNG could be used as an alternative fuel to diesel.

The stock of Tata Motors plummeted nearly 10% on Tuesday after the auto major’s second quarterly profit fell short of Street expectations.

The Tata Motors stock eroded Rs15,057.51 crore from its market valuation. It slumped 9.88% to end at R457.25 on BSE. During the day, it tanked 10.99% to R451.60.

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