Angel Broking neutral on Tata Motors

Angel Broking has maintained its neutral rating on Tata Motors. "Tata Motors (TML) today approved the terms of its two simultaneous and unlinked Rights Issues. As per the first one, Ordinary Shares will be issued on a Rights basis in the ratio of 1:6 at Rs 340 per share with a face value of Rs 10 each aggregating to Rs 2,186 crore. The other issue of ?A? Ordinary Shares would also be on a Rights basis in the ratio of 1:6 at Rs 305 per share with a face value of Rs 10 each aggregating to Rs 1,961 crore.