Tata Motors Bags Orders to Supply 5,000 Buses from State Transport Undertakings in India; Shares Down 5%

MT Newswires Live03-13 16:47

Commercial vehicles manufacturer Tata Motors (NSE:TATAMOTORS, BOM:500570) has secured orders of more than 5,000 buses and bus chassis from various state transport undertakings in India, according to a filing to the Indian stock exchanges on Friday.

The company secured the orders for each tender through competitive e-bidding processes under the government's procurement system. These will be deployed in phases.

The orders are for Tata Motors' passenger mobility solutions, including Tata Magna, Tata Cityride, Tata Starbus, Tata Starbus Prime, Tata LPO 1618, LPO 1622, and LPO 1822 variants.

The company's shares were down nearly 5% in recent trade.

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