Tata Sons buys shares worth Rs 1,100 cr in Indian Hotels, Tata Motors
Tata Sons on Thursday picked up shares worth Rs 1,088.88 crore of its two group companies, Indian Hotels Company (IHC) and Tata Motors, through open market transactions. According to the block deal data, Tata Sons acquired 6.64 per cent stake in IHC. The shares were bought at a price of Rs 130.4 per scrip, valuing the transaction at Rs 1,029.80 crore.
Tata Sons bought the shares from IHC's three other promoters -- Lady Tata Memorial Trust, Sir Dorabji Tata Trust and Sir Ratan Tata Trust.
The holding company also purchased 0.06 per cent stake in Tata Motors. The shares were picked up at an average price of Rs 354.15, translating into a transaction of Rs 59.08 crore.
The shares were purchased from Tata Motors' two other promoters -- Sir Dorabji Tata Trust and Sir Ratan Tata Trust.
On BSE, the shares of IHC ended 1.99 per cent up at Rs 133.00 and Tata Motors' stock settled 0.31 per cent down at Rs 353.05.