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Tata Motors Limited on Wednesday gained as much as 6.4 per cent to trade at ₹135.2 on NSE.
Earlier, at the company's AGM on Tuesday, its Chairman, N Chandrasekaran said it would bring down its net debt of ₹48,000 crore to near-zero levels in the next three years. It has also set a target for the TML group to generate positive free cash flow from FY22 onwards.
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Tata Motors eyes near zero-debt level in next three years
Aim is to generate positive free cash flows from FY22, says ChandrasekaranThe company is also looking at sharpening its product portfolio in its subsidiary, Jaguar Land Rover (JLR), and will continue to invest in "new disruptive areas like autonomous and connected vehicles", he said.
Speaking about the challenges faced by the automotive industry in the past year, he said domestic auto sales declined 18 per cent year-over-year in FY20, the lowest print since the data series was introduced in 2001.
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