Tata Engineering is planning regional alliances overseas similar to its tie-up with the UK-based M G Rover for the European market.

A Tata Engineering spokesman said this would be a marketing alliance. "The strategy will be finalised over the next two months," he said.

The gameplan is part of the company's endeavour to expand its global reach. Tata Engineering has already drafted its vision for 2006-07 and a major focus of this initiative is to be a leading player in the international light commercial vehicles market and to also garner a significant revenue from the overseas passenger car segment.

Towards the end of the last year, Telco had signed a manufacturing and supply agreement with the MG Rover group.

The pact provided for manufacturing Indica according to MG Rover's specifications at its Pune plant and selling them in Europe, branded as Rover. MG Rover would use its dealer network in Europe to market India's first indigenous passenger car.

Telco has already exported small volumes of the Indica to Malta and Italy, among other countries, and has a distributor base in some other countries such as Portugal and the UK for other products.

Tata Engineering intends to export around 100,000 Indicas to the European Union over five years, beginning fiscal 2004. In the EU, the company also plans to distribute the Safari and pick-ups.

Tata Engineering has identified Sri Lanka as one of its key markets and has relaunched commercial vehicles in Colombo and five other cities in Sri Lanka.

The company's bullish outlook also reflects in the company's scrip. The stock today touched a 52-week high of Rs 183.40 on the Bombay Stock Exchange and Rs 183.90 on the National Stock Exchange.

It, however, shed some gains through the day to finally close at Rs 181.15 and Rs 181.55 on the BSE and NSE. Volumes were also significant at 55,9108 on the BSE and 187,7335 on the NSE.