Tata group stocks: Tata Steel, Tata Motors shares in focus today. Here's why

Shares of Tata Steel Ltd and Tata Motors Ltd will be in focus on Friday morning amid two different developments at the Tata group companies. In the case of Tata Steel, steelmaker has proceeded with its 1.25 billion pound (GBP) investment proposal to build a Electric Arc Furnace (EAF) for steel production in Port Talbot in collaboration with the UK government. The Tata group firm had announced the closure of two of the UK’s four active blast furnaces in January this year.

“Following 7 months of formal and informal national level discussions with the UK trade unions, Tata Steel will proceed with its £1.25 Billion investment to build a state-of-the-art Electric Arc Furnace in Port Talbot and commence closure of the existing heavy end assets in the following months,” Tata Steel informed stock exchanges.

In the case of Tata Motors, the auto major said it would host a conference call on Friday, May 10, at 6.30 pm IST with the senior management of the company and Jaguar Land Rover, a wholly-owned subsidiary, to discuss its March quarter results.

CFO of Tata Motors Group PB Balaji; Executive Director of Tata Motors Girish Wagh, Managing Director of Tata Motors Passenger Vehicles Limited & Tata Passenger Electric Mobility Shailesh Chandra, CEO of Jaguar Land Rover Adrian Mardell and CFO of Jaguar Land Rover Richard Molyneux would be present in the concall.

Besides, the vote on the merger proposal of Tata Motors and Tata Motors DVR will be held today, as announced by the Tata Motors' board in July 2023, CNBC TV-18 reported. The auto major said that it will issue seven (Ordinary) shares of Tata Motors per 10 Tata Motors DVR (A Ordinary) shares, which will stand cancelled.