Tata Motors rises on incorporating wholly owned subsidiary
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Tata Motors is currently trading at Rs. 427.50, up by 6.80 points or 1.62% from its previous closing of Rs. 420.70 on the BSE.
The scrip opened at Rs. 424.00 and has touched a high and low of Rs. 430.30 and Rs. 424.00 respectively. So far 132839 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 536.50 on 17-Nov-2021 and a 52 week low of Rs. 268.50 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 431.10 and Rs. 404.95 respectively. The current market cap of the company is Rs. 139708.38 crore.
The promoters holding in the company stood at 46.40%, while Institutions and Non-Institutions held 28.97% and 19.47% respectively.
Tata Motors has incorporated a wholly owned subsidiary, viz., ‘TML Smart City Mobility Solutions’ (TSCMSL) for undertaking urban mass mobility business interalia under an own, operate and maintain model. With the launch of TSCMSL, the company intends to bring specific focus to its Electric Vehicles (EV) segment as a service offerings across its portfolio of commercial vehicles.
In addition to existing State Transport Units (STUs) and government fleets, TSCMSL will also cater to all business opportunities across passenger mobility applications. The company already has around 650 EV buses plying on roads across various cities in India with a cumulative coverage of greater than 35 million kms and has operationalized 250 plus EV buses in FY22.
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.
