Market Currents

• Friday, October 9, 2009

• 09:52 AM Tata Motors (TTM) raises $750M by issuing global depositary receipts and convertible bonds to pay down debt from buying the Jaguar and Land Rover brands from Ford (F) last year. Shares dropped as much as 5.5% in Bombay, and its U.S.-traded ADRs are currently -6.1% to $12.10. Comment!

• Monday, August 31, 2009

• 07:33 AM Tata Motors (TTM) posts a consolidated quarterly net loss of 3.29B rupees ($67.8M), down from a net profit of 7.2B rupees the year before. Net sales +13% Y/Y to 162.9B rupees. Comment!

• Tuesday, May 26, 2009

• 11:10 AM Tata Motors (TTM) bet its no-frills $2,600 Nano would be a hit. As it turns out, half of buyers booked the top-end model, which costs 40% more, while just 20% have ordered the basic package. This means bigger margins for Tata, and less chance of a price war with Toyota (TM) and Renault. Comment!

• Wednesday, May 20, 2009

• 09:00 AM Pre-market gainers: PRGN +28%. IRE +21%. IGLD +15%. ANPI +14%. ADI +12%. TLB +12%. BEXP +12%. TTM +10%. AIB +7%. SQNM +6%. GM +6%. CNB +9%. EGLE +6%. HBAN +5%. CIT +5%. JASO +5%. CDE +5%. AMD +5%. TGT +5%. SOL +5%. THC +5%. ZION +5%. DB +4%.
  Losers: RF -7%. FST -5%. NTES -5%. HPQ -4%. Comment!

• Monday, May 18, 2009

• 09:00 AM India stocks trading higher premarket on election results: IBN +30%. EPI +24%. IFN +20%. INFY +14%. INSM +14%. SAY +13%. TTM +12.5%. CTSH +9%. Comment!

• Tuesday, March 24, 2009

• 09:12 AM Expecting millions of orders for its first 100,000 Nano cars, Tata Motors (TTM) will sell the $2,000 car through a lottery. Shares -1.8% premarket. Comment!

• Monday, October 27, 2008

• 09:27 AM Premarket losers: THOR -14%. AZ -12%. SI -12%. CTL -12%. SNP -11%. LFC -11%. CEO -11%. TTM -11%. PTR -10%. L -10%. AXA -10%. ACH -10%. DB -9%. CS -10%. AAUK -10%. AEG -9%. CGV -9%. RTP -9%. JAVA -8%. DAI -8%. WPPGY -8%. Comment!

• Thursday, August 21, 2008

• 05:50 AM Tata Motors (TTM), the Indian automaker that bought Jaguar from Ford (F), announces a pared back share-sale plan to fund the acquisition. The stock has lost 33% since the original plan was announced. Shares jumped in Mumbai, but close down 1.1%. Comment!

• Saturday, July 12, 2008

• 09:35 AM Tata Motors (TTM) will offer a version of its Nano min-car powered by a compressed-air engine. "The engine emits one-third the carbon dioxide of conventional motors of the same size. Cold air, compressed in tanks to 300 times atmospheric pressure, is heated and fed into the cylinders of a piston engine." Comment!

• Thursday, June 19, 2008

• 15:30 PM Message to GM (GM): Sell Hummer now, if you can. (Possible suitor: Tata Motors (TTM).) Comment!