Tata launches its new Indica Vista

Prachi — Sun, 24 Aug 2008 04:30:20 +0000

The car manufacturing biggie, Tata Motors launched Indica Vista, the new model of their largely selling car, Indica this Saturday. The company has launched the new model in seven versions at a Delhi showroom price of Rs. 3.49 Lakhs for a 1.2 L petrol, which is for the lowest, though the highest ranges upto Rs. 4.88 Lakhs.

Rajiv Dube, President of Tata Motors announced that they plan to launch the Indica Vista in the international markets in the next six months. Though seven new variants have been launched, but the president clarified that they would not completely phase out the old versions. He stated that out of the twelve old versions, six or seven would still be available in the markets.

Tata Motors have planned to expend Rs 1,700 crores for the expansion of the production plants and have also tied up with Fiat as a complementary step. Dube added that there would not be any competition between the two car manufacturing companies and that Fiat would launch their vehicles in the premium segment.

Ratan Tata, Chirman to Tata Motors, after the launch expressed his elation over the company’s progress in the past few years in terms of technology, quality, designing and performance.

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Indian Rupee below 40 a US Dollar

Me — Thu, 20 Sep 2007 07:39:44 +0000

Today, at the very early hour, the Indian Sensex crossed the 16,000 mark, a 9 year high since May 1998, to bring down the Rupee below 40 against the US Dollar. At 9:45am, the partially convertible rupee was at 39.99/40.00 per dollar after having strengthened to as much as 39.88 before giving up some of its gains.

Last Tuesday, the US Federal Reserve lowered its federal funds target rate by 50 basis points to 4.75% raising India’s interest rate premium over the US to 300 basis points, which traders said would attract more capital inflows and add to the rupee’s upward momentum.

Foreign funds have been a key driver for the rupee. They have bought about $1 billion so far this month taking their net purchases so far in 2007 to nearly $9.4 billion. It is about time that the RBI to intervene aggressively to stem the rupee’s rally. This may not be such a good news for day-traders; nonetheless, it will serve as a respite to businesses, specially small to mid firms, who earns their incomes through the Dollar. The RBI bought $11.4 billion in intervention in July, when the rupee was last near current levels, taking its dollar purchases in 2007 to $38.1 billion.

The US Subprime crisis is perhaps also one of the key factor in pushing up the Rupee against it doubled by the fact that the West is pumping in money in India, and other Asian regions.

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Tata launches its new Indica Vista

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Indian Rupee below 40 a US Dollar

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