Tata starts open sales of Nano in Maharashtra, UP, WB, Karnataka

New Delhi: Tata Motors today said it has started open sales of its small car, Nano, in Maharashtra, West Bengal, Uttar Pradesh and Karnataka, reports PTI.

In a statement the company said customers in these states who have not booked a Nano so far can now purchase the Nano directly from showrooms.

"Customers will be able to take a closer look at and test drive the Tata Nano across all Tata Motors dealerships and special Nano access points," it said.

Tata Motors had started open sales of the Nano in Kerala from August.

The company has tied up with 25 banks to offer loans for purchasing the Tata Nano at attractive rates of interest and more such arrangements are being put in place, it said.

Last year, it had selected 1.55 lakh customers for delivering the car in two phases. It is in the process of delivering the car to the first one lakh customers, which will be completed by the end of this year.

In July, the company had increased the price of the Nano by 3%-4%, which translated into a hike of Rs3,700 to Rs6,894 for different variants, based on ex-showroom, Delhi, prices.

The first one lakh customers were, however, price-protected and will get their cars at the announced price of Rs1.23 lakh-Rs1.72 lakh (ex-showroom, Delhi).

Tata Motors had launched the Nano, touted as the world's cheapest car, in 2009. It produces the car from Sanand, in Gujarat, and the facility has installed capacity for production of 2.5 lakh units annually.

The car was originally planned to be produced at Singur, in West Bengal, but the company had to shift the location following political opposition.

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JSL hikes investment in Orissa project to Rs6,400 crore

Stainless steel producer JSL Stainless Ltd said it has increased the proposed investment on Phase-II development of its Orissa plant to Rs6,400 crore to augment production capacity to one million tonnes per annum. The project is being funded in the debt-equity ratio of 70:30.

The company, formerly known as Jindal Stainless, had originally envisaged setting up an eight lakh tonnes per annum stainless steel plant in Orissa. The original sanctioned investment on Phase-II development was about Rs6,000 crore, JSL said in a statement.

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Ashok Leyland sales jump 90% in September

Hinduja Group flagship company Ashok Leyland reported a 90.2% jump in commercial vehicle sales at 10,363 units in September against 54,48 units sold in the same month last year.

The company said its domestic sales stood at 9,513 units compared with 4,809 units sold in same month last year, up by 97.8%. Exports increased by 33% to 850 units from 639 units.

The company also reported a 99.1% increase in total domestic sales of medium and heavy commercial vehicles at 9,474 units in September 2010 compared with 4,759 units in September 2009.

On Tuesday, Ashok Leyland shares ended 0.8% up at Rs76 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,407 points.

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