Tata Motors Passenger Vehicles allots 1 lakh equity shares under ESOP
TATAMOTORS moved higher.
· Business Standard Mkts
Consequent to the aforesaid allotment, the paid-up equity share capital of the Company stands increased to Rs 7,36,64,61,785 divided into 3,68,29,92,140 equity shares of Rs 2/- each (considering the amount of subscribed share capital plus shares forfeited less calls in arrears).
The analysis
TATAMOTORS reported Rs 7,36,64,61,785 and Rs 2. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
For TATAMOTORS, the question is how much of this is already reflected in the price and how much re-rates the auto peer set alongside it.
Market context
- The company directly in focus is TATAMOTORS.
- Sector exposure: Auto.
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