Tata Motors up 5% as Co resumes operations across all manufacturing plants

In the last one week till June 2, Tata Motors surged 14.06 per cent as compared to 7.02 per cent gain in the S&P BSE Sensex

Tata Motors gained 5.12 per cent to Rs 101.45 on the BSE on Wednesday after the auto major said it has resumed operations across all its manufacturing plants in the country.

"The company has restarted operations at all plants with Jamshedpur facility also getting approval on May 27," Tata Motors said in a regulatory filing yesterday.

"Around 59 per cent of company's passenger vehicle showrooms, covering 69 per cent of the retail market, have commenced operations. From supply side, 90 per cent of suppliers in commercial vehicle segment have received permissions to commence. Of the lot, only 60 per cent have been able to start supplies," it said.

As of March 31, 2020, the company had cash and cash equivalent of Rs 4,700 crore, and undrawn credit facility of Rs 1,500 crore, the company said.

To further shore up the liquidity, the company has issued commercial papers of Rs 3,500 crore and also raised Rs 1,000 crore through non-convertible debentures (NCDs), it said.

At 10:08 AM, the stock was up 3.73 per cent against 1.05 per cent rise in the S&P BSE Sensex. Around 3.8 crore shares changed hands on the NSE and Bse combined so far. In the last one week till June 2, Tata Motors had surged 14.06 per cent as compared to 7.02 per cent gain in the S&P BSE Sensex.