Tata Motors announced merger of subsidiary company

Tata Motors stock rose 2.4% to ₹926 after announcing Tata Motors Finance Ltd (TMFL) merger with Tata Capital Ltd (TCL). This merger will see TCL issue shares to TMFL shareholders, with Tata Motors Ltd (TML) holding 4.7% in the merged entity. This move is expected to be completed in 9-12 months with approvals from boards of TML, TCL, and TMFL.