Tata Motors on Thursday announced that it will implement a price hike of up to 2 per cent for its commercial vehicles from April 1 to offset the impact of the previous input cost increase.
How much will the price of Tata Motors cars increase?
Tata Motors has not revealed the specific percentage increase for each model.
Although the degree of increase will vary depending on individual models and variants, it will be implemented uniformly across the entire spectrum of commercial vehicles, Tata Motors said in a regulatory filing.
India’s leading automaker by revenue had earlier increased prices of its commercial vehicle range by up to 3 percent in January.
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Tata Motors will split the business into two separate companies
Earlier this week, Tata Motors announced its decision to undergo a strategic split into two separate listed companies, effectively separating its commercial vehicle (CV) business from its passenger vehicle arm.
The restructuring involves consolidating the commercial vehicle business and its related investments into one entity, while the passenger vehicle business, which includes electric vehicles, Jaguar Land Rover (JLR) and related investments, will form a second entity.
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Moody’s affirms Tata Motors’ Ba3 corporate family rating
Moody’s on Wednesday affirmed Tata Motors’ Ba3 corporate family rating with a positive outlook, including a Ba3 senior unsecured instrument rating for Tata Motors Ltd.
Despite the merger, Moody’s noted Tata Motors’ strong position in India’s commercial vehicle industry, and expected ample free cash flow and strong credit metrics for its commercial vehicle operations. A rating upgrade of one notch was also included, anticipating extraordinary support from parent Tata Sons Ltd, if needed.
Tata Motors shares today
Tata Motors shares closed up 2.14 percent Rs 1,039.35 per share on BSE. During the day, it jumped 1,046.85.
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The company’s shares closed with a gain of 2.13 percent on NSE. 1,039.30 each. During the day, it zoomed 1,047.
