India Tata Motors shares up on smaller rights issue


MUMBAI, Aug 21 (Reuters) - Shares in India's Tata Motors rose nearly 5 percent early on Thursday as investors cheered its decision to scrap a planned 30 billion rupee ($686 million) convertible preference share issue. India's top vehicle maker said late on Wednesday it would cancel the issue due to weak stock markets, and instead raise funds by selling some investments over the next six to eight months, within the Tata group where possible. It will now raise 42 billion rupees from two ...

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