Tata Motors shares gain 8.5% on company's goal to bring debt to near zero

Analysts say company's investors are confident firm will be able to achieve significant deleveraging on the back of better performance in both, domestic business and JLR

A day after N Chandrasekaran, chairman, Tata Motors made public the plans of reducing debt to near-zero levels over the next three years, company’s investors lapped up the stock. Rising to 10-week high, shares of Tata Motors closed at Rs 137.85 a piece, up 8.5 per cent on Wednesday over the previous day. 

The running up of the stock indicates that company’s investors are confident that the Tata group flagship will be able to achieve the target of deleveraging the balance sheet in a significant way on the basis of an improvement in operational performance in both, the domestic business and