Tata Motors Scraps Share Issue

It was reported that Tata Motors is scraping a share issue that would originally have been used to fund the purchase on Jaguar and Land Rover.

The move was due to the current situation in the stock market.

The company has also been hit by higher steel prices and its stock price has slide in the recent months.

Its plan to launch the cheapest car in the world costing $2500 has also been hit by protests in India. Delays to production of the Tata Nano is thus expected.