Tata Motors slips despite rating agencies maintaining or raising automaker and JLR's long-term rating

Tata Motors Share Price: Tata Motors slipped nearly one per cent on BSE on Friday (June 14, 2024) despite leading rating agencies such as CRISIL Ratings, ICRA Ratings, and S&P Global Ratings either maintaining or raising the large-cap automaker's long-term ratings.

The stock that closed at Rs 985.75 in the previous session slipped by 0.97 per cent to Friday's low of Rs 981.40.

Tata Motors shares that started the session on Friday at Rs 991.00 each closed it up by 0.78 per cent, or Rs 7.65, at Rs 993.40 apiece.

Rating agencies on Tata Motors

CRISIL Ratings has raised the automaker's long-term rating to AA+/Stable from AA/Positive.

ICRA Ratings, on the other hand, has maintained its long-term rating for the large-cap firm at AA+/Stable from AA/Stable.

S&P Global Ratings has raised long-term ratings of Tata Motors and TML Holdings to BB+/Positive from BB+/Watch Positive.

S&P Global Ratings has also raised Jaguar Land Rover rating to BB/Watch Positive from BB/Positive.