Tata Motors share rose over 1% today after the auto firm announced that it has scaled up efforts to enhance the wellbeing of its personnel and their supporting ecosystem. The company has adopted a 'Business Agility Plan' to protect and serve the interests of its customers, dealers, and suppliers.
"Keeping employee safety foremost, standard operating procedures have been updated for the prevailing second wave with the focus on expediting vaccinations, providing support to affected employees and their family members," the company said.
It further added that the lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. The company will continue to review and plan for the critical raw materials to cater to this volatile demand outlook and work closely with our vendor partners to meet the same. It believes that this approach best serves the interests of all stakeholders by utilising the cash invested in the entire ecosystem in the most optimal manner.
India's third-largest automobile manufacturing company reported domestic sales of 182,824 units in Q4 FY21, up 21 per cent on a sequential basis and up 94 percent on a year-on-year (YoY) basis.
"Commercial Vehicle domestic sales in Q4 FY21 at 98,966 units was 20 per cent higher than the previous quarter, continuing its sequential growth. It was also higher by 59 per cent over Q4 FY20," said Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd.
"M&HCVs and ILCVs continued to lead the recovery growing by 48 per cent and 34 per cent respectively over the previous quarter on the back of improved consumer sentiments, firming freight rates and higher infrastructure demand including road construction and mining," he added.
At 12:42 hours, Tata Motors was quoting at Rs 298.50, up 1.05 percent on the BSE.