close

News WrapGet Handpicked Stories from our editors directly to your mailbox

EGM meeting: Tata Motors gain 3% on promoter company's share purchase

Tata Sons plans to boost the stakes in Tata Motors, before its Extraordinary General Meeting (EGM). For the purchase of stake, Morgan Stanley has acted as a book runner."

EGM meeting: Tata Motors gain 3% on promoter company's share purchase
Tata Motors' was top gainer on BSE, after when its promoter company revealed it has bought 50 million shares. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Tue, Dec 13, 2016
11:33 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Tata Nexon yet another feather in Tata Motors' cap - Hows and whys to know Tata Nexon yet another feather in Tata Motors' cap - Hows and whys to know
Sensex slips below 39K, Nifty below 11,600 levels; Yes Bank, MindTree, Ashok Leyland stocks bleed Sensex slips below 39K, Nifty below 11,600 levels; Yes Bank, MindTree, Ashok Leyland stocks bleed
Tata Motors shares vroom 6% in just 1 day on D-Street - here is what you must know Tata Motors shares vroom 6% in just 1 day on D-Street - here is what you must know

Shares of Tata Motors surged over 3% in Tuesday's trading session, after its promoter Tata Sons revealed it bought about 50 million shares of the company ahead of the Extraordinary General Meeting (EGM) slated for later in the month.

The company was the top gainer on BSE in early trade. At 11.01 am, Tata Motors' stock was trading at Rs 464.80 per share on the index, up by Rs 10.25 or 2.25%.  

In the early session, Tata Motors saw trade of nearly 50.1 million shares in two block deals. Tata Motors has 1.7% of equity trade in block deals. 

A Bloomberg report said, Tata Sons plans to boost the stakes in Tata Motors, before its Extraordinary General Meeting (EGM). For the purchase of stake, Morgan Stanley has acted as a book runner."

Tata Motors will hold an EGM on December  22, 2016, to decide on the removal of ex-chairman Cyrus Mistry of Tata Sons.