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Tata Motors inches up on getting shareholders’ approval for raising Rs 6,494 crore

Tata Motors is currently trading at Rs. 162.35, up by 0.05 points or 0.03% from its previous closing of Rs. 162.30 on the BSE.

The scrip opened at Rs. 161.75 and has touched a high and low of Rs. 164.05 and Rs. 160.00 respectively. So far 600163 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 239.30 on 18-Apr-2019 and a 52 week low of Rs. 106.00 on 04-Sep-2019.

Last one week high and low of the scrip stood at Rs. 171.90 and Rs. 160.00 respectively. The current market cap of the company is Rs. 47020.47 crore.

The promoters holding in the company stood at 38.37%, while Institutions and Non-Institutions held 34.62% and 27.01% respectively.

Tata Motors has received its shareholders’ approval for raising up to Rs 6,494.35 crore from Tata Sons through issuance of securities through preferential allotment. Last month, the company’s board had approved to raise the capital, which it plans to utilize to reduce debt and to refinance existing loans.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

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