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On BSE, 41517 shares were traded in the scrip. The stock hit a high of Rs 132.75 and a low of Rs 125 so far during the day.
India's largest commercial vehicle maker by sales had hit a 52-week high of Rs 816 on 3 January 2008 and 52-week low of Rs 122 on 20 November 2008.
Tata Motors' American depository receipt (ADR) fell 17.58% to $3.75 overnight after the company reported a 30% decline in total vehicle sales to 32,696 units in November 2008 over November 2007. The company unveiled the monthly sales data after trading hours in India on Monday, 1 December 2008, and before trading hours in the United States.
Meanwhile, the company is borrowing from the public and will pay up to a maximum of 11% annual interest on three-year deposits as the credit crunch limits its ability to refinance loans used to acquire the luxury brands, Jaguar and Land Rover, in June this year.
The company, which met with cold response from investors in its two recent separate rights issues to raise Rs 4,147 crore for part funding JLR deal, said in a newspaper announcement on 1 December 2008 that it would offer 10% interest on a minimum public deposit of Rs 20,000 for a year, 10.5% for two years and 11% for three years.
This is the first time since 1995 that Tata Motors is borrowing from public. The company did not mention how much amount it was looking to raise throught this scheme.
As per reports, Tata Motors needs fund to replace the $3 billion bridge loan it had taken to acquire Jaguar and Land Rover, the transaction for which was completed in June 2008.
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