9:46 pm - Thursday June 20, 2024

Tata Motors gains on price hike hopes

659 Viewed Alka Anand Singh Comments Off on Tata Motors gains on price hike hopes

Tata Motors is trading higher by over 2% at Rs 399 on the Bombay Stock Exchange on media reports of price hike in April.

“Tata Motors is mulling increasing prices of its commercial vehicles portfolio by about 1%, primarily due to high input costs and continued inflationary pressures,” the PTI report suggests quoting a Tata Motors spokesperson.

Tata Motors sells a range of commercial vehicles such as light CVs, buses and trucks. The company has already stated that it also looking at increasing prices of its passenger vehicles by 1-2%, added report.

Meanwhile, Reuters report suggests that, Tata Motors is planning to raise Rs 300 crore through 4-year 11-month bonds at 10%.

The bonds are rated AA+ by Care rating agency, and Deutsche Bank is the sole arranger to the bond sale, added report.
The stock opened at Rs 394 and has seen a combined around 800,000 shares changing hands on the counter so far on the BSE and NSE.

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