UPDATE 2-Tata Motors 2008/09 net halves, cuts capex plans

Newswire

* One-time gains help profit; revenues down 11 pct * Hoping for demand to pick up from 2009 * Capex plans cut for next two years (Adds outlook, analyst comments) By Janaki Krishnan MUMBAI, May 29 (Reuters) - Profit at Tata Motors Ltd fell less than expected in 2008/09 due to investment sales and accounting changes, and India's top vehicle maker said it expects an improvement in business towards the end of the year. Rising borrowing costs and then an economic slowdown and tight ...

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