Tata Motors share price up nearly 6% as Company will cut consolidated debt to zero in 3 years

Published On: Tuesday, August 25, 2020 | By: Team KnowMyStock

Shares of Tata Motors gained 6 per cent to Rs. 128.35, On Tuesday 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, currently the TML group has a net automotive debt of Rs 48,000 crore and currently we are deleveraging this business substantially. The target is to bring it to near zero debt levels in the next three years.JLR would be cash-positive this year, while India PV business was being subsidised to a new legal entity, Tata Motors CFO said at the AGM. The new company’s models like the Nexon, Altroz and Harriers have been received well in India and show investments have started paying off. Tata Motors overtook Mahindra & Mahindra (M&M) to third place in terms of vehicles registered in July over the year-ago period.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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