MUMBAI (Commodity Online): Leading Indian car maker, Tata Motors Ltd (BOM: 500570) traded upwards on the Bombay Stock Exchange (BSE) as the company has tied up for USD 250 mn funding for its working capital requirements.

Tata Motors stocks traded up at Rs.636 with gains of over 2.5% in the afternoon trades on the BSE today. The company, along with its unit Jaguar Land Rover has tied up for USD 250 mn from GE capital for its working capital requirements.

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Company’s American depository receipts (ADR) jumped 3.56% to USD 13.66 on the New York Stock Exchange on Friday, 13 November 2009.

The large-cap stock had outperformed the market in the past one quarter, surging 30.88% as compared to the Sensex's return of 8.57%.

The company's equity capital is Rs.544.19 crore. Face value per share is Rs.10. Jaguar Land Rover would avail the loan from GE Capital - the financing arm of US-based General Electric as soon as it rolls off its three UK production lines, reports suggest.
It will boost working capital within the company by shortening the 30-40 day gap it typically has to wait between producing hundreds of thousands of cars a year and delivering them to dealerships in 90 countries.

Tata Motors on 20 October 2009 said it acquired the remaining 79% stake in Spain's Hispano Carrocera SA. TataMotors, which had a 21% stake in the Spanish bus and coach maker since 2005, said it acquired the stake exercising its call option through mutual agreement with the other stakeholder Investalia SA.

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