Tata Motors boosting cash hoard for expansion and acquisitions
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Mumbai
TATA Motors Ltd, the owner of luxury car brands Jaguar Land Rover, is building a war chest that will allow it to expand its business and acquire rivals.
Cash and equivalents at the Indian maker of the Tiago and Hexa cars surged 87 per cent to 397.6 billion rupees (S$8.23 billion) as of June 30 from a year earlier, according to data compiled by Bloomberg. Reliance Industries Ltd, India's biggest company by market value, had 721 billion rupees in cash in the period. The most among the country's companies.
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