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Tata Motors share price rises for second day on plan to reduce debt to near-zero

At Tata Motors AGM, Tata Group chairman N Chandrasekaran said the company was targeting to reduce its debt to near-zero levels in three years.

August 26, 2020 / 08:07 PM IST

Tata Motors share price rose more than 3 percent in the early trade on August 26, a day after the company said it proposed to reduce its debt to near-zero levels.

In the previous trading session, the share, which has risen 55 percent in the past three months, closed up 4.83 percent or Rs 5.85 at Rs 127.05.

At Tata Motors annual general meeting on August 25, N Chandrasekaran, Chairman of the Tata Group, said the company had a net automotive debt of Rs 48,000 crore and was targeting to reduce it to near-zero levels in three years, CNBC-TV18 reported.

The investments in the company had reduced to 50 percent this fiscal, he added.