UPDATE 1-Tata Motors nets Q1 surprise on cost cuts, exports

Newswire

(Adds details, comments) BOMBAY, July 29 (Reuters) - India's top vehicle maker, Tata Motors Ltd. , beat market forecasts on Friday with a surprise 22 percent rise in quarterly net profit, as cost cuts and strong sales abroad offset high raw material costs. India's $5 billion truck and bus market, the world's fifth largest, has enjoyed 30 percent annual growth in the past three years, driven by an improving network of highways and purchases to replace ageing trucks in Asia's third-biggest ...

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