Auto Stocks: PM Modi to launch national automobile scrappage policy at 10:45 am. Being Organized to Invite Investment for setting up vehicle scrapping infrastructure. Tata Motors: Tata Motors Ltd, India's largest vehicle maker is preparing to raise funds of up to $100 crore (Rs 7,500 crore) for its new electric vehicle (EV) business. The total EV business values at nearly $700 crore (Rs 35,000 crore). Reportedly, the company is in talks to raise funds with Global Funds and has approached companies like Blackstone, TPG Capital, KKR. The company may transfer EV business to Step Down subsidiary. In March, shareholders approved the demerger of the PV business.