India's Tata Motors hit by steel price rise

Newswire

NEW DELHI, Feb 27 (Reuters) - India's biggest vehicle maker, Tata Motors Ltd , said on Friday a sharp increase in domestic steel prices was pushing up costs, which could force the firm to increase vehicle prices. "The impact of the steel price increase is quite severe," Ravi Kant, executive director of Tata Motors' commercial vehicles business, told Reuters by phone from Bombay. "If the rates are revised even further, then it is surely going to have an impact on our cost, no doubt about ...

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