Tata Motors gains on getting nod to incorporate Wholly Owned Subsidiary
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Tata Motors is currently trading at Rs. 909.50, up by 5.35 points or 0.59% from its previous closing of Rs. 904.15 on the BSE.
The scrip opened at Rs. 922.30 and has touched a high and low of Rs. 923.60 and Rs. 890.00 respectively. So far 443153 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1065.60 on 05-Mar-2024 and a 52 week low of Rs. 545.50 on 06-Jun-2023.
Last one week high and low of the scrip stood at Rs. 964.35 and Rs. 855.45 respectively. The current market cap of the company is Rs. 297728.79 crore.
The promoters holding in the company stood at 46.36%, while Institutions and Non-Institutions held 35.34% and 18.30% respectively.
Tata Motors has received approval for the incorporation of a Wholly Owned Subsidiary (WOS) with the proposed name as ‘TML Commercial Vehicles’ (TMLCVL) or such other name as may be approved by the Ministry of Corporate Affairs, Government of India. TMLCVL is proposed to be incorporated with a paid-up capital of Rs 10,00,000 comprising of 5,00,000 equity shares of face value Rs 2 each fully paid-up in cash. The Board of Directors of the company at its Meeting held on June 4, 2024, has approved the same.
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.
