Tata Motors global wholesales at 89,846 vehicles in June 2011

Cumulative sales for June 2011 are 264,488 higher by 7% compared to the corresponding period in June 2010

The Tata Motors group global wholesales, including Jaguar Land Rover, were 89,846 units in June 2011, compared to 90,702 units in June 2010. Cumulative sales for the fiscal are 264,488 higher by 7% compared to the corresponding period in June 2010.

Global sales of all commercial vehicles-Tata, Tata Daewoo and the Tata Hispano Carrocera range-were 45,285 units, in June 2011, a growth of 13%. Cumulative sales for the fiscal are 130,184 units, a growth of 17%.

Global sales of all passenger vehicles were at 44,561 units in June 2011, lower by 12%. Cumulative sales for the fiscal are 134,304 units, lower by 2%.
Global sales of Tata passenger vehicles and the distribution offtake in India of Fiat cars were at 24,203 units for the month, lower by 21% over June 2010. Cumulative sales for the fiscal are at 72,214 units, lower by 9%.

Global sales of Jaguar Land Rover in June 2011 were 20,358 vehicles, higher by 1%. Jaguar sales for the month were 4,038 units, lower by 40%, while Land Rover sales were 16,320, higher by 22%. Cumulative sales of Jaguar Land Rover for the fiscal are 62,090 units, higher by 9%. Cumulative sales of Jaguar are 11,343 units, lower by 27%, while cumulative sales of Land Rover are 50,747 units, higher by 22%.

On Friday, Tata Motors ended 2.61% down at Rs1,036.15 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.30% to 18,561.92.

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Inventure Growth & Securities plans IPO to raise Rs80 crore

The IPO proceeds will be utilised for investing Rs30 crore in Inventure Finance and Rs20 crore for augmenting long term working capital requirement

Broking firm Inventure Growth & Securities Ltd, the flagship company of the Inventure Group plans to raise Rs70-Rs80 crore through an initial public offering (IPO).

"The company has received SEBI nod for its IPO to raise Rs70-Rs80 crore through an offer of 70 lakh equity shares of Rs10 each via the 100% book building route. The IPO will hit the market in third week of July 2011," Inventure's chairman and managing director, Nagji K Rita told reporters.

The IPO proceeds will be utilised for investing Rs30 crore in subsidiary firm Inventure Finance and Rs20 crore for augmenting long term working capital requirement among others, according to the DRHP.

Inventure offers various services like trading in equity-cash and derivatives market, PMS, debt market and currency futures segment among others. It was promoted by Nagji Rita, who was a member of the governing board of the BSE between 2004 and 2006.

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Karnataka govt, Japan Chamber of Commerce ink MoU for sharing information

The MoU will stand for the support of Japanese companies in their future expansion plan as well as enhancement of existing operations in Karnataka

The Karnataka government entity Karnataka Udyog Mitra and Japanese Chamber of Commerce & Industry Bangalore (JCCIB), an association of Japanese companies situated in Bangalore, both have signed a memorandum of understanding (MoU) for information sharing on industrial estates and infrastructure development and to release the same in Japanese jointly.

In this current scenario where the global investment in India is gaining momentum, this agreement will stand for the support of Japanese companies in their future expansion plan as well as enhancement of existing operations in Karnataka. Currently, there are about 175 Japanese companies in Bangalore. And in future, there are plans of large scale investments for two-wheeler manufacturing & its ancillaries and furthermore some electronic parts enterprises to venture in Bangalore. As it claims "Green, Clean and Cool City", Bangalore is abundant with green and offers an excellent living environment.

There is a Dialogue Monitoring Committee in place between Karnataka state and Japanese Chamber of Commerce & Industry, Bangalore (Formerly Commerce and Industry Committee of Japanese Association) since 2009 and engaged in various activities. Though there were information available on industrial estates and roads infrastructure during these days, it was not adequate to support on venturing enterprises. The problems were in terms of contacting from multiple offices or difficulty in getting information as such.

But from now on, apart from publishing information, both parties will impart support on venturing enterprises, infrastructure development and to ease the formalities for incorporation etc. Last year June, Karnataka Government held a Global Investors Meet (GIM) to attract investment from domestic and overseas companies. This was participated by more than 2,000 companies and 389 MoUs were signed on various projects (Total investment of $90 billion).

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