Tata Motors rises as its arm completes acquisition of Ford India’s Sanand plant

Tata Motors is currently trading at Rs. 418.00, up by 4.95 points or 1.20% from its previous closing of Rs. 413.05 on the BSE.

tata motors reports 49 fall in q4 consolidated net profit 1 e1627878397794
Tata Motors

The scrip opened at Rs. 415.55 and has touched a high and low of Rs. 419.95 and Rs. 413.55 respectively. So far 12325 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. 419.95 and Rs. 381.00 respectively. The current market cap of the company is Rs. 137187.17 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’ wholly owned subsidiary — Tata Passenger Electric Mobility (TPEML) has acquired the Sanand Property and the VM Plant and Machinery. Additionally, all VM Employees are offered employment, and those who have accepted TPEML’s offer of employment, have been transferred to TPEML and have become employees of TPEML with effect from January 10, 2023. TPEML extends a warm welcome to all such VM Employees who have accepted its offer of employment.

Earlier, TPEML had executed a Unit Transfer Agreement with Ford India (FIPL) on August 7, 2022 for acquisition of FIPL’s manufacturing plant situated at Sanand, Gujarat, which inter-alia includes: (i) entire land & buildings (Sanand Property); (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein (VM Plant and Machinery); and (iii) transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand (Eligible VM Employees), for a total consideration, exclusive of taxes, of Rs 725.7 crore (Transaction).

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.

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