Tata Motors CFO PB Balaji On Earnings & DVR In Conversation With Nikunj Dalmia | ET Now Exclusive

Tata Motors shares on Wednesday climbed 4 per cent to hit its 52-week high after the company reported a strong numbers in the for the first quarter ended June 30. The stock opened flat at Rs 640 and hit day's high and fresh 52-week high of Rs 665.40 on NSE -- up nearly 5 per cent. The scrip held firmly in green around noon to trade at Rs 647 per share.
Tata Motors DVR shares were also in action during today's trade as the board has proposed to convert DVR shares to ordinary shares. The stock was trading higher by more than 15 per cent at Rs 437. The company in a regulatory filing on Tuesday said that the board has approved the reduction of capital of the company by way of cancellation of the entire 'A' ordinary shares. The capital reduction consideration translates to a 23 per cent premium to the 'A' ordinary share price. This is being done for simplification and consolidation of capital structure of the company, it said in a statement. 'A' share cancellation will cut the outstanding shares by 4.2 per cent. The board decided that 7 ordinary shares will be issued for every 10 'A' ordinary shares as consideration. Tata Motors in the first quarter (Q1FY24) posted a consolidated net profit of Rs 3,300.65 crore, riding on a sharp improvement in performance of its British arm Jaguar Land Rover and commercial vehicles business. The company had posted a consolidated net loss of Rs 4,950.97 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing. Watch PB Balaji, CFO, Tata Motors talks about the Growth of the company on ET Now.
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[@bidyutmitra1788]

When your guests are on phone, hìs/her voice is very poor.

[@simplistictrading]

Kya CFO banega re , can't afford a good mic 🎤. Felt like only nikunj did the talking