Tata Motors touched a new low of Rs 262 and ended at Rs 268, down 4%. Around 715,094 shares were traded throughout the day on the BSE.
Updated at 1010hrs
Tata Motors slips into red after a positive start.
The stock opened up Rs 6, at Rs 278 but soon fell to a low of Rs 269. The stock is now down 1% at Rs 269.50. The counter has seen trades of around 63,230 shares so far on the BSE.
Tata Motors will be issuing bonds to raise Rs 5,000 crore to refinance the loan taken to acquire Jaguar and Land Rover (JLR). Remaining, Rs 5,000 crore will be met by way of rupee-$-denominated term loans.
The company had already paid the first Rs 5,000 corre of a total of Rs 15,000 crore bridge loan to acquire the two brands from Ford Motor Company in June last year.
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