Tata Motors Group global wholesales at 119,799 vehicles in January 2012

Global sales of all passenger vehicles were at 66,785 nos. in January 2012, higher by 26% over the same month in the previous year.

The Tata Motors Group global wholesales, including Jaguar Land Rover, were 119,799 nos., in January 2012, higher by 21% over January 2011. Cumulative sales for the fiscal are 985,260, higher by 13% compared to the corresponding period in 2010-11.

Global sales of all commercial vehicles – Tata, Tata Daewoo and the Tata Hispano Carrocera range -- were 53,014 nos. in January 2012, a growth of 15%. Cumulative sales for the fiscal are 478,339 nos., a growth of 17%.

Global sales of all passenger vehicles were at 66,785 nos. in January 2012, higher by 26%. Cumulative sales for the fiscal are 506,921 nos., higher by 10%.

Global sales of Tata passenger vehicles and the distribution offtake in India of Fiat cars were at 37,492 nos., for the month, higher by 14%, over January 2011. Cumulative sales for the fiscal are at 261,216 nos.

Global sales of Jaguar Land Rover in January 2012 were at 29,293 vehicles, higher by 44% over January 2011. Jaguar sales for the month were 4,547 nos., higher by 49%, while Land Rover sales were 24,746 nos., higher by 43%. Cumulative sales of Jaguar Land Rover for the fiscal are 245,705 nos., higher by 25%. Cumulative sales of Jaguar are 44,468 nos., lower by 3%, while cumulative sales of Land Rover are 201,237 nos., higher by 34%.

In the late afternoon, Tata Motors was trading at around Rs286.05 per share on the Bombay Stock Exchange, 6.77% up from the previous close.

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Max India appoints Mohit Talwar as deputy managing director

Mohit has spent 24 years in wholesale banking in Standard Chartered, ANZ Grindlays and Bank of Nova Scotia

Max India Ltd said that it has approved the appointment of Mohit Talwar as its deputy managing director (DMD) and induction as an additional director on its Board. Mohit was previously director-corporate development at Max India. He has been with the company for almost four years and has played a pivotal role in growing the business and transforming the Max India Group into a profitable, 1.7 billion-dollar enterprise. Mohit was also instrumental in Max Healthcare’s recent stake sale to South Africa’s Life Healthcare for Rs 516 crore. Mohit will continue to report to Rahul Khosla, managing director (MD), Max India Ltd.
Rahul Khosla, MD, Max India Ltd, said, “Mohit is a valuable part of the leadership team and has demonstrated strong performance and commitment to the Group. I look forward to his vital support as the company’s deputy managing director, as we set about driving growth, creating a more efficient enterprise approach and delivering on  our values of caring and service excellence.”
As the DMD, Mohit will play a significant role in shaping the future success of the Max India Group. This will include managing effective shareholder alignment, especially with Max India valued joint venture partners, progressing new business opportunities – both organically and inorganically, ensuring appropriate funding arrangements for the Group, optimizing Group capital management and Treasury,  managing Investor and Analyst Relations and advising Management and Shareholders on Capital Market implications. In addition, Mohit will also drive revenue synergies across the Max India Group.
Mohit has spent 24 years in wholesale banking in Standard Chartered, ANZ Grindlays and Bank of Nova Scotia. Prior to this, he spent almost 6 years with the Oberoi Group. Mohit is a post graduate from St. Stephen's College and completed his management studies in Hospitality from the Oberoi School.

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India set to harvest record 250 million tonnes foodgrain: PM

The prime minister said foodgrain production will exceed the target by 5 million tonnes and cotton output at 34 million bales, which is a new record as per the latest estimates. However, there was only 1% growth rate in food production in the country, against 2% required to meet India’s grain requirement by 2020-21, he said

New Delhi, Feb 15 (PTI) Exceeding target, the country is set to harvest a record 250 million tonnes of foodgrain this year, as efforts to push farm growth seem to be paying off, reports PTI quoting prime minister Manmohan Singh.

“Our farmers have done us proud again this year. ...but we still have a long way to go. ...we cannot afford to be complacent since demand of horticulture and animal products is increasing very rapidly and this will require some shift of area away from production of foodgrain.

“Therefore productivity in foodgrain has to go up handsomely,” he said at a workshop at the Rashtrapati Bhawan in the capital.

The workshop is the part of the initiative of president Pratibha Patil for enhancing farm productivity, especially in rain-fed areas. A committee of governors constituted by the president has already met twice.

Besides Ms Patil, Wednesday’s meeting was attended by over 20 governors, eight Union ministers, five chief ministers and 37 vice-chancellors of agricultural universities.

The prime minister said foodgrain production will exceed the target by 5 million tonnes and cotton output at 34 million bales, which is a new record as per the latest estimates.

However, there was only 1% growth rate in food production in the country, against 2% required to meet India’s grain requirement by 2020-21, he said.

The prime minister also pointed out distortions arising from pricing and subsidy regimes resulted into soil degradation.

He expressed concern over volatility in prices of farm products. “There is a big gap between farm gate and retail prices that the consumers pay. There is also volatility with prices being low after harvest. We need to address all this by reforming agricultural marketing systems and investing in supply chains,” he said.

The prime minister stressed the need of private investment in marketing logistics, particularly in sub-sectors with perishable products, as well as in agricultural research areas like extension activities.

Mr Singh called for a special focus on rain-fed areas, where farm productivity continues to be low.

“Rain-fed farming continues to be a gamble with nature and cases of distress continue to be reported despite our efforts,” he said, adding that productivity in rain-fed areas must be improved.

Rain-fed farming account for about 60% of the country’s total cropped area. It contributes more than 80% of the oilseeds and pulses grown in the country.

The prime minister also observed that strong agriculture is necessary for food security and inclusive growth cannot be achieved in its true sense without providing livelihood security to the farmers.

Referring to the suggestions made by the three core groups, constituted by PMO to look into agricultural issues, Mr Singh said, “These groups have given their reports and ministry of food and agriculture has examined them. I am told that most of the recommendations are acceptable and action on them has either already been taken or is underway.”

Agriculture and allied sectors have grown at an estimated rate of 3.5% in the 11th Five-Year Plan (2007-2012), compared to the growth rate of 2.4% in the previous plan period, he added.

The foodgrain production in 2010-11 crop year (July-June) stood at 244.78 million tonnes.

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