Tata Motors will supply 1,111 trucks to Siddhivinayak Logistics during the year
Tata Motors said that it has received its largest order ever of Medium & Heavy Commercial Vehicles from a single fleet owner. The order is from Siddhivinayak Logistics Ltd (SVLL) to supply 1,111 M&HCV trucks, to be delivered during the year.
Based in Surat, SVLL is one of the largest fleet owners in the country, owning a fleet of over 2000 commercial vehicles. The company operates across diverse segments like steel, cement, tractors, chemicals, machinery and is a pioneer in new segments like commercial vehicle chassis carriers. SVLL plans to start transporting farm fresh fruits and vegetables through refrigerated containers on the Tata Prima.
Vinod Sahay, head-sales & marketing (M&HCV Trucks), Tata Motors said, "We will be commencing deliveries in this month and plan to complete the order by end of this financial year."
Tata Motors M&HCV sales in May 2011 saw a growth of 12% over May 2010. The company currently has 70% market share in M&HCV trucks.
On Friday, Tata Motors ended 0.09% down at Rs1,019.75 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.63% to 18,268.54.
Taurus Mutual Fund new issue closes on 14th June
Taurus Mutual Fund has launched Taurus Fixed Maturity Plan Series G (370 Days), a close-ended income scheme.
The investment objective of the scheme is to generate income with minimum volatility through investments in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme.
The new issue closes on 14th June. The minimum investment amount is Rs5,000.
SBI Mutual Fund new issue closes on 13th June
SBI Mutual Fund has launched SBI Debt Fund Series-90 Days-44, a close-ended income scheme.
The investment objective of the plan is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, PSU & corporate bonds and money market instruments maturing on or before the maturity of the scheme.
The new issue closes on 13th June. The minimum investment amount is Rs5,000.