Tata Motors rides high on partnering with IndusInd Bank to offer exclusive electric vehicle dealer financing
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Tata Motors is currently trading at Rs. 437.25, up by 4.05 points or 0.93% from its previous closing of Rs. 433.20 on the BSE.
The scrip opened at Rs. 432.90 and has touched a high and low of Rs. 437.85 and Rs. 429.55 respectively. So far 273139 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 528.35 on 18-Jan-2022 and a 52 week low of Rs. 366.05 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 440.00 and Rs. 420.65 respectively. The current market cap of the company is Rs. 145007.53 crore.
The promoters holding in the company stood at 46.40%, while Institutions and Non-Institutions held 29.02% and 19.68% respectively.
Tata Motors has inked Memorandum of understanding (MoU) with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorized passenger EV dealers of Tata Motors. This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limit to cater to high demand phases, which will be available to dealers 2 times in a year.
Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
