Tata Motors plans to raise Rs 400 crores by Debentures


New Delhi: On Tuesday the corporation conveyed that a particular group will meet on 15 July 2016 to issue bonds worth Rs 400 crore. Tata Motors increase 0.61% to Rs 487.15 at 9:21 IST on BSE. The previous day the declaration was made subsequent to market hours, 12 July 2016. Meanwhile, the BSE Sensex climb up 37.53 points, or 0.13%, to 27,845.67. On BSE 28,000 shares were doing business in the counter, compared with an standard quantity of 8.63 lakh shares in the precedent one quarter. The supply hit a elevated of Rs 487.85 and near to the ground of Rs 484.80 so far throughout the day. On 23rd June 2016 the supply hit a 52-week elevated of Rs 489.60. The supply hit a 52-week low of Rs 266 on 11 February 2016. The supply had outperformed the market more than the precedent one month till 12 July 2016, rising 5.91% in comparison with 4.40% increase in the Sensex.

The scrip had also outperformed the marketplace in precedent one quarter, increasing 22.55% as alongside Sensex’s 10.59% rise. The large-cap corporation has an equity capital of Rs 577.44 crore. Face value per share is Rs 2. Tata Motors declared that a accordingly constituted committee of the board of directors of the corporation will meet on 15 July 2016, for issuing rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. This issuance is pursuant to the endorsement of the shareholders on 13 August 2015 and the board of directors’ decree approved at its gathering held on 30 March 2016. Tata Motors’ consolidated net profit increasde 201.6% to Rs 5177.06 crore on 18.8% growth in net sales to Rs 79926.12 crore in Q4 March 2016 over Q4 March 2015. Tata Motors is a market leader in saleable vehicles in India. The company’s British unit JLR sells best luxury cars.