Tata Motors demerger: Moody's affirms Ba3 rating; positive outlook
The proposed structure would enable optimising synergies across Tata Motors’ passenger vehicles and EV businesses in India and JLR, says Moody’s.
The proposed structure would enable optimising synergies across Tata Motors’ passenger vehicles and EV businesses in India and JLR, says Moody’s.
Reacting to the demerger plan, shares of Tata Motors gained as much as 4.5% to scale a new peak of ₹1,031.70 on the BSE.
While there are limited synergies between CV and PV businesses, there are considerable synergies to be harnessed across PV, EV and JLR, says Tata Motors
The auto major has received NoC from the BSE and NSE for the conversion of its differential voting rights (DVRs) shares to ordinary shares.
Company reserves up to 10% of the offer for Tata Motors shareholders; price band to be decided soon
Strong performance expected to continue on faster ramp-up in volumes in H2 vs H1 and guidance upgrade at JLR being higher than expected
Tata Motors share price has surged 60% in the calendar year 2023, on the back of recent rise in sales volume and turnaround in JLR numbers.
Shares of Tata Motors hit a record high of ₹665.40 on the NSE.
CLSA upgrades target price of Tata Motors to ₹690 from ₹624 earlier
Shares of Tata Motors rose 2% in intraday trade on Monday to hit their 52-week high of ₹548.65 apiece on the BSE.