Shares of Tata Motors, Tata Steel surge

The Tata Motors scrip surged 19 per cent to Rs 363.25 a share on the BSE on Wednesday, following the financial rating agency Crisil’s disclosure about the Tata group firm’s plan to raise Rs 4,200 crore through issuance of debenture in four tranches.

Shares of Tata Steel, India’s largest steel producer, also gained 12.81 per cent at Rs 371.30. A company spokesperson said that it raised Rs 1,500 crore from issuance of NCDs to Life Insurance Corporation.