Business Today
Loading...

Tata Motors share rises 4% as firm plans to raise Rs 1,000 crore through NCDs

Share price of  Tata Motors rose 3.79% to Rs 78.1 compared to previous close of Rs 75.25 on BSE

Aseem Thapliyal | April 28, 2020 | Updated 17:54 IST
Tata Motors share rises 4% as firm plans to raise Rs 1,000 crore through NCDs
Market capitalisation of Tata Motors rose to Rs 27,682 crore in trade today

Tata Motors share price gained nearly 4% on Tuesday after the Indian auto firm said it plans to issue non-convertible debentures (NCDs) worth Rs 1,000 crore. Share price of  Tata Motors rose 3.79% to Rs 78.1 compared to previous close of Rs 75.25 on BSE. It closed 2.26% higher at Rs 76.95 on BSE.

The stock has gained 3.78% in two days.

The stock stands higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. Market capitalisation of Tata Motors rose to Rs 27,682 crore in trade today.

Total 18.62 lakh shares of the firm changed hands amounting to turnover of Rs 14.30 crore on BSE. The stock has lost 64.28% in last one year and fallen 58.43% since the beginning of this year. Tata Motors said NCDs would be issued in three tranches and a special committee of the company's board is scheduled to convene on May 5.

Share Market Update: Sensex ends 371 points higher, Nifty at 9,380; IndusInd Bank, Bajaj Finance, HDFC top gainers

Automakers have been witnessing liquidity deficit due to fall in demand amid the lockdown imposed due to coronavirus crisis. Tata Motors is the latest auto firm to take the debt route to raise funds since the onset of lockdown.

Mahindra & Mahindra on April 21 said it allotted 10,000 unsecured redeemable non-convertible debentures (NCDs) of the face value of Rs 10 lakh each for Rs 1,000 crore on private placement basis. 

Apollo Tyres on April 9 said it raised Rs 500 crore via allotment of non-convertible debentures (NCDs) through private placement. Motherson Sumi Systems on April 13 said its board approved to raise up to Rs 1,000 crore to secure liquidity while dealing with the global coronavirus pandemic.

Axis Bank share price rises 5% ahead of Q4 earnings

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close