Shares of this Tata Group company, which specialises in product development and digital solutions, rose nearly 2 percent following its collaboration with BMW to establish a joint venture, BMW TechWorks India, aimed at developing automotive software and IT solutions.
Price Movement
In Wednesday’s trading session, Tata Technologies Limited’s share price reached an intraday high of Rs.1,064.00 per share, rising 2 percent from its previous close of Rs.1,043.50 apiece. The share has retreated since then and is currently trading at Rs.1,058.95 per share.
Joint Venture
Tata Technologies has launched its joint venture with the BMW Group, named BMW TechWorks India. After finalising contracts and obtaining regulatory approvals, the JV will begin operations with 100 employees across Pune, Bengaluru, and Chennai.
It aims to rapidly scale to a four-digit workforce by the end of 2025, focusing on attracting top engineering talent. Both companies hold equal shares, emphasising their commitment to automotive technology innovation.
Both the BMW Group and Tata Technologies hold 50 percent of the shares in this joint venture, reflecting their shared vision to foster innovation in automotive technology and business IT.
Management’s Comment
Commenting on the establishment, Warren Harris, CEO and MD of Tata Technologies, said, “Our joint venture with the BMW Group, BMW TechWorks India, underscores our deep expertise in software-defined vehicles and reflects our commitment to driving innovation in both automotive software and business IT. We are excited to partner with the BMW Group in engineering premium, software-driven vehicles, enhancing digital experiences, and accelerating their digital transformation journey.”
Strategic Initiatives
Tata Technologies has been chosen by a global EV battery manufacturer to lead its first battery design and development program.
Additionally, the company secured an end-to-end cabin design project with a North American commercial vehicle maker and signed a multi-year deal with a European aerospace firm for business and first-class aircraft seat development.
Financial Overview
In its latest financial update, the company reported net sales of Rs.1,269 crore for Q1 FY25, a modest 1 percent increase from Rs.1,258 crore in Q1 FY24. However, net profits fell 16 percent to Rs.162 crore in Q1 FY25, down from Rs.192 crore in the same quarter last year.
About the company
Tata Technologies is a global engineering services company focused on product development and digital solutions, primarily for the automotive sector. As a subsidiary of Tata Motors, it caters to major original equipment manufacturers (OEMs) and is also expanding its presence in the aerospace and other industries.
Written by – Siddesh S Raskar
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