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Tata Sons buys shares of Tata Power, Tata Steel, Indian Hotels in falling market

As of December 2019, promoter (Tata Group including Tata Sons) held 34.26 percent stake in Tata Power, 33.12 percent in Tata Steel, and 39.09 percent in Indian Hotels.

March 12, 2020 / 09:26 PM IST
 
 
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Tata Sons, the promoter of all Tata group companies, seems to have taken advantage of a falling market to increase stake in group companies on March 12.

Tata Sons bought 13,878,964 equity shares of Tata Power at Rs 38.72 per share, 7,740,371 equity shares of Tata Steel at Rs 287.44 per share and 16,566,846 equity shares of Indian Hotels at Rs 107.4 per share, as per the bulk deals data available on the National Stock Exchange.

Tata Sons also picked up 18,492,681 shares of Tata Motors DVR at Rs 43.15 per share, but Marwadi Enterprise sold 3,795,100 shares of Tata Motors DVR at Rs 42.65 per share.

As of December 2019, promoter (Tata Group including Tata Sons) held 34.26 percent stake in Tata Power, 33.12 percent in Tata Steel, and 39.09 percent in Indian Hotels.

Among others, Nalanda India Equity Fund bought 71,685 shares of Cera Sanitaryware at Rs 2,349.92 per share.

However, Aiyar Swaminathan Shankar sold 40,000 shares of Alphageo (India) at Rs 142.32 per share and Bajaj Finance sold 601,168 shares of GHCL at Rs 109.98 per share.

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Moneycontrol News
first published: Mar 12, 2020 09:26 pm

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