Tata Sons consolidates stake in Tata Motors, Tata Steel | business | Hindustan Times
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Tata Sons consolidates stake in Tata Motors, Tata Steel

Tata group's holding company Tata Sons has consolidated its stake in two group firms -- Tata Motors and Tata Steel -- by picking up additional stakes through open market transactions worth nearly Rs 50 crore.

business Updated: Sep 05, 2011 22:57 IST

Tata group's holding company Tata Sons has consolidated its stake in two group firms -- Tata Motors and Tata Steel -- by picking up additional stakes through open market transactions worth nearly Rs 50 crore.

Tata Sons bought 3.31 lakh shares of Tata Motors held by Tata Chemicals for Rs 750 apiece, aggregating to Rs 24.82 crore through a bulk deal, according to data available on the BSE on Monday.

Similarly, Tata Sons also raised its holding in Tata Steel by acquiring an additional 5.10 lakh shares which were held by Tata Chemicals for Rs 483.50 apiece in a deal worth Rs 24.64 crore.

At the end of June quarter, Tata Sons held over 1.37 crore shares representing 25.61% stake in Tata Motors. Post today's acquisition of shares, its stake has gone up to 25.97%.

In Tata Steel, Tata Sons held 2.73 crore equities, or 28.5% stake, in the same period. After today's transaction, its stake has risen to 28.62%.

Tata Chemicals had 7,03,741 shares, or 0.13%, stake in Tata Motors, while it held 42.51 lakh shares representing 0.44% stake in Tata Steel at the end of the June quarter.