Tata Motors' stock rises after mega order for buses
Posted on Sep 03 2014 | IANS
Mumbai, Sep 3 : Tata Motors scrip Wednesday gained 1.18 percent or 6.10 points in the mid-afternoon trade at Rs.522.50, a day after the automobile company bagged a mega order for urban buses.
The stock of the company at Bombay Stock Exchange (BSE) touched a high of Rs.530.50 from its previous close of Rs.516.40 in the day's trade.
Tata Motors had bagged an order of over 2,700 'Urban' buses under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM)-II scheme.
According to the company, it received an order for 487 units from KSRTC (Karnataka State Road Transport Corporation) and another for supply of 780 units from HRTC (Himachal Road Transport Corporation) for Tata Marcopolo-built buses as per "Urban Bus Specifications" under JNNURM-II scheme.
The company said the 'Urban' buses, which boast of a smart new front fascia, have been designed for safety, comfort and convenience for passengers and better operating efficiency for state transport authorities.