Tata Motors jumps on incorporating WOS ‘PT Tata Motors Indonesia’

Tata Motors is currently trading at Rs. 255.75, up by 6.15 points or 2.46% from its previous closing of Rs. 249.60 on the BSE.

The scrip opened at Rs. 251.00 and has touched a high and low of Rs. 256.00 and Rs. 251.00 respectively. So far 2, 92,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 320.60 on 20-Apr-2012 and a 52 week low of Rs. 137.65 on 13-Sep-2011.

Last one week high and low of the scrip stood at Rs. 256.00 and Rs. 225.15 respectively. The current market cap of the company is Rs. 69,246 crore.

The promoters holding in the company stood at 34.71% while Institutions and Non-Institutions held 39.97% and 8.83% respectively.

Tata Motors, India's largest automobile company, has set up a Jakarta-based wholly owned subsidiary (WOS), PT Tata Motors Indonesia, and will foray into both passenger and commercial vehicles. This marks the company’s entry into Indonesia, the largest automobile market in the ASEAN. Indonesia is a key market for Tata Motors, which has a wide range of products from small cars to buses in passenger vehicles and from 0.5T mini-trucks to 49T heavy trucks in commercial vehicles.

In order to serve the country and the ASEAN region, the company is also evaluating options for setting up a manufacturing base in Indonesia and the commercial launch and local assembly would happen in 2013.

Besides, the company is also participating in the 20th Indonesia International Motor Show, starting in Jakarta on September 20 where it will display 14 Tata passenger and commercial vehicles, being considered for introduction in Indonesia progressively.