Tuesday 6 August 2013

Tata Motors gains on tying-up with UCO Bank for commercial vehicle financing

Tata Motors is currently trading at Rs. 286.35, up by 1.75 points or 0.61% from its previous closing of Rs. 284.60 on the BSE.

The scrip opened at Rs. 283.50 and has touched a high and low of Rs. 288.75 and Rs. 283.50 respectively. So far 34,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 337.05 on 10-Jan-2013 and a 52 week low of Rs. 224.15 on 13-Aug-2012.

Last one week high and low of the scrip stood at Rs. 304.20 and Rs. 278.00 respectively. The current market cap of the company is Rs. 78,361.00 crore.

The promoters holding in the company stood at 34.35% while Institutions and Non-Institutions held 37.98% and 8.43% respectively.

Tata Motors has entered into an understanding with UCO Bank (formerly United Commercial Bank), for financing its range of commercial vehicles, to provide an added facility of finance to its customers. Though this tie-up, UCO Bank will offer loans of upto 85% on a Tata Motors commercial vehicles on-road pricing. At very competitive rates starting at 11.50% p.a and tenure of upto 7 years, this facility will be available through all Tata Motors and UCO Bank outlets.

Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.

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