Tata Motors shares down after Tata Steel proposes stake sale in company
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Tata Motors stock fell over 2% in the intraday trade on Friday. At 1025 hours, the shares of the firm were at Rs 330.25, down 2.26% from its previous close.
On Friday Morning, Tata Steel, the parent company of Tata Motors, has decided to sell shares of the automaker worth up to $188 million, according to a Reuters report.
Tata Steel stock was at Rs 233.40, up Rs 3.20 or 1.39% at the Bombay Stock Exchange.
The 30-share barometer opened in the green today. At 1025 hours, the S&P sense was up 427.63 points to trade at 26,382.5, a 1.61% rise over its previous close.
The markets are responding to the Federal Reserve's decision to hold off on raising interest rates, in the light of the recent gloabl turmoil.
The markets were closed on Thursday on account of Ganesh Chaturthi festival.
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The company's revenue from operations was Rs 1.19 trillion, a 13.5 per cent increase year-on-year (Y-o-Y) from Rs 1.05 trillion. Sequentially, revenue rose 8.6 per cent from Rs 1.10 trillion.
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The Supreme Court will pass an order today on Delhi Chief Minister Arvind Kejriwal's interim bail in the money laundering case registered against him by the Enforcement Directorate (ED) in connection with the Delhi excise policy case.
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Andhra Pradesh Chief Electoral Officer (CEO) Mukesh Kumar Meena on Thursday took stock of the arrangements made for the simultaneous Lok Sabha and Assembly elections 72 hours prior to the polling day in the state on May 13.
The CEO called on the officials from across departments to ensure the elections are held in a "peaceful, fair, and exemplary" manner.
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