India's Tata Motors yesterday said it had secured private funding for its Jaguar and Land Rover marques, ending state aid talks with the UK government.
Shares in India's biggest vehicles maker jumped 6.81 per cent on the Bombay Stock Exchange following the news, in a clear sign that investors feel the worst is over for the carmaker. Analysts say, however, that Tata Motors still faces significant challenges to boost JLR's falling sales.
“With the positive trend in the external environment in financial markets and improvement in general liquidity, these arrangements have been and are expected to be concluded without necessitating guarantees from the UK government,” Tata Motors said.
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