Skip to main content

Tata Motors share price up nearly 6% on company's debt-slash plan

 

The share touched its 52-week high of Rs 201.80 on January 15, 2020 and 52-week low of Rs 63.60 on March 24, 2020.

Tata Motors share price rose nearly 6 percent intraday on August 25 after the company said it proposed to reduce its debt to near-zero levels.

At the annual general meeting of the Tata Motors on August 25, N Chandrasekaran, Chairman of the Tata Group, said the company had a net automotive debt of Rs 48,000 crore and was targetting to reduce it to near-zero levels in three years, CNBC-TV18 reported.

The investments in the company had reduced to 50 percent this fiscal, he added.

JLR would be cash-positive this year, while India PV business was being subsidiarised to a new legal entity, Tata Motors CFO

said at the AGM.

The focus of the passenger vehicle business would be entirely on the front-end. It generated highest ever profitability in FY19, which got impacted by COVID-19, he added.


Tata Motors share price was quoting at Rs 127.10, up Rs 5.90, or 4.87 percent on the BSE.

The share touched its 52-week high Rs 201.80 and 52-week low Rs 63.60 on 15 January, 2020 and 24 March, 2020, respectively.

It is trading 37.02 percent below its 52-week high and 99.84 percent above its 52-week low.

Source - Moneycontrol.com

Comments

Post a Comment

Popular posts from this blog

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...
Post a Comment
Read more

Brokerages place bets on Titan, see double-digit upside in the stock

Titan can get benefits from the strong market share in the jewellery and wrist watches segment, mainly driven by a wide range of product portfolio catering mainly to the premium and value-added designer jewellery segment. After three consecutive sessions of losses, shares of Titan Company rose over a percent in morning trade on BSE on September 23. The company was dealt a severe blow by COVID-19 as the pandemic triggered strict lockdowns completely battered the retail sector. In the calendar year so far, shares of this one of the largest, most efficient and profitable specialty retailer in India are 7 percent down. The company reported a net standalone loss of Rs 270 crore for the quarter ended June 2020 as the COVID-19 pandemic hit business. The loss was higher than a CNBC-TV18 poll estimate of Rs 175 crore. Standalone revenue during the quarter declined 62.3 percent year-on-year to Rs 1,862 crore compared to the corresponding period last fiscal. Light at the end ...
Post a Comment
Read more

Indigo Paints trades at over 55% premium in grey market after IPO price announcement

The grey market premium has increased significantly from Rs 400-500 on January 11 to Rs 840-850 on January 15. Indigo Paints, one of the fastest-growing paint companies in India, was trading at more than 50 percent premium over its higher issue price band of Rs 1,490 per share in the grey market after the announcement of IPO details. The premium in the grey market as of January 15 was at around Rs 840-850 per share, which means the grey market trading price stood at Rs 2,340-2,330 against the issue price of Rs 1,490, as per the data available on IPO Watch. The premium increased significantly from Rs 400-500 on January 11 to Rs 840-850 today. The grey market is an unofficial trading platform where shares get traded well before the allotment in an initial public offering and till the shares get listed on bourses. It generally estimates the expected listing price of a stock. "Currently Asian paints and Berger paints are trading at a PE of 111 and 148, respectively, while Indigo Paint...
Post a Comment
Read more