Tata Motors and Reliance Latest Updates Live

Tata Motors rising up with the fall of Reliance shares :-

Shares in Tata Motors rise 3 percent a day after the auto maker said its global vehicle sales, including for luxury unit Jaguar Land Rover, rose 21 percent in July from a year ago. while on other hand Shares in Reliance Power(RPOL.NS) fell more than 6 percent on Friday after the CAG said the company unduly benefited from a government decision allowing the power producer to use surplus coal from its captive block for another project it was not meant for. 

Global sales were in-line with analyst estimates: Land Rover volumes grew by 55 percent from a year, thanks to strong volumes for its Evoque model, though Jaguar is failing to revive sales, a domestic analyst says.

Analyst are more optimistic of a boost in sales for Land Rover due to improved supplies of its Evoque and Freelander models after the company recently announced increased production shifts at its U.K. plant.

Reliance Power, controlled by billionaire Anil Ambani, is developing a 4000 MW project at Sasan in Madhya Pradesh and was allotted captive blocks to fuel this project. The company later received government approval to use coal from these blocks for another power project being developed by the company.

source : in.reuters

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