Tata Motors shares in news after Moody's upgrades ratings
Tata Motors shares ended 1.14% higher at Rs 1025.25 on Wednesday against the previous close of Rs 1013.65 on BSE. Market cap of the firm climbed to Rs 3.40 lakh crore.
- Aug 8, 2024,
- Updated Aug 8, 2024 8:57 AM IST
Shares of Tata Motors are in news today after Moody's upgraded Tata Motors' corporate family rating (CFR) to Ba1 from Ba3 and maintained a positive outlook on all the other ratings. Tata Motors shares ended 1.14% higher at Rs 1025.25 on Wednesday against the previous close of Rs 1013.65 on BSE. Market cap of the firm climbed to Rs 3.40 lakh crore.
Shares of Tata Motors hit a record high of Rs 1179.05 on July 30, 2024 and a fell to a 52 week low of Rs 593.50 on August 25, 2023.
Tata Motors stock has surged 30% this year and rallied 68% in the last one year.
The ratings agency said it has upgraded Tata Motors senior unsecured instruments' ratings to Ba1 from Ba3.
Moody's has also maintained the positive outlook on all ratings. Tata Motors logged a 74 per cent year-on-year rise in consolidated profit after tax (PAT) for the first quarter of 2024-25 to Rs 5,566 crore against Rs 3,203 crore in the corresponding quarter last year.
Revenues from operations for the April-June quarter climbed 5.7 per cent to over than Rs 1.07 lakh crore.
Shares of Tata Motors are in news today after Moody's upgraded Tata Motors' corporate family rating (CFR) to Ba1 from Ba3 and maintained a positive outlook on all the other ratings. Tata Motors shares ended 1.14% higher at Rs 1025.25 on Wednesday against the previous close of Rs 1013.65 on BSE. Market cap of the firm climbed to Rs 3.40 lakh crore.
Shares of Tata Motors hit a record high of Rs 1179.05 on July 30, 2024 and a fell to a 52 week low of Rs 593.50 on August 25, 2023.
Tata Motors stock has surged 30% this year and rallied 68% in the last one year.
The ratings agency said it has upgraded Tata Motors senior unsecured instruments' ratings to Ba1 from Ba3.
Moody's has also maintained the positive outlook on all ratings. Tata Motors logged a 74 per cent year-on-year rise in consolidated profit after tax (PAT) for the first quarter of 2024-25 to Rs 5,566 crore against Rs 3,203 crore in the corresponding quarter last year.
Revenues from operations for the April-June quarter climbed 5.7 per cent to over than Rs 1.07 lakh crore.