Tata Motors rises on inking MoU with South Indian Bank for seamless commercial vehicle financing
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Tata Motors is currently trading at Rs. 1014.75, up by 14.30 points or 1.43% from its previous closing of Rs. 1000.45 on the BSE.
The scrip opened at Rs. 1005.00 and has touched a high and low of Rs. 1019.55 and Rs. 999.00 respectively. So far 163658 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. 474.60 on 02-May-2023.
Last one week high and low of the scrip stood at Rs. 1019.55 and Rs. 988.00 respectively. The current market cap of the company is Rs. 337808.21 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 signed a Memorandum of Understanding (MoU) with South Indian Bank to offer convenient financing solutions to its commercial vehicle customers and dealerships. South Indian Bank will offer financing across the entire commercial vehicle portfolio, and customers will benefit from the bank’s wide network and specially curated easy repayment plans.
The alliance represents a significant stride towards providing enhanced support to dealerships, fostering growth, minimising collateral requirements, lowering rate of interest and streamlining credit processing.
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.
