News Title: Tata Motors Share Price 06 JUNE 2024 🚗💰
1. Tata Motors Finance approves merger with Tata Capital
The board of directors of Tata Motors Finance has approved the merger with Tata Capital Limited. Tata Motors Finance is a wholly-owned subsidiary of Tata Motors Limited. The company informed the stock markets that its board of directors has given approval for the merger with Tata Capital Limited.
2. Share Price Update
On Thursday (06 June 2024), Tata Motors Share Price was trading at ₹939, up by 1.01%. The company stated, “Tata Motors Limited, Tata Capital Limited, and Tata Motors Finance Limited board of directors have approved the merger with TMFL under the NCLT scheme. As a result, TMFL will issue its equity shares to TMFL’s shareholders, resulting in Tata Motors’ ownership interest in the merged entity at 4.7%.”
3. Market Performance
Tata Motors’ shares witnessed a significant decline on Tuesday, closing at ₹904.15. The previous day (4 June), the share price dropped by 4.88%. During the trading session, the share fell to a low of ₹855.45.
4. Political Impact on Market
The market experienced heavy selling pressure due to the BJP failing to secure a clear majority in the Lok Sabha elections. As a result, both BSE Sensex and NSE Nifty witnessed an 8% decline during trading, with a slight recovery towards the end but closing with a heavy loss of nearly 8%.
Stay tuned for more updates on Tata Motors Share Price and market trends! 📈📉
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
