Tata Steel Ltd sells equity shares of Tata Motors Limited

Based on the review of its portfolio, Tata Steel Ltd is proposing to sell equity shares of face value of Rs. 2 each of Tata Motors Limited to institutional investors over the stock exchange for a value not exceeding Rs. 1,250 crore. The price will be discovered through a book building process.

The Company also proposes to sell equity shares of face value of Rs. 2 each of Tata Motors Limited to Tata Sons Limited around the market price through an off-market transaction for a total value not exceeding Rs. 1,250 crore.

As part of its portfolio restructuring has on September 18, 2015 sold 3,85,20,801 shares of Tata Motors Limited to institutional investors over the stock exchange for a total consideration of Rs. 1,250.69 crore.

As part of its portfolio restructuring has on September 18, 2015, sold through off-market transaction 3,78,78,787 Ordinary Shares of the face value of Rs. 2/- each of Tata Motors Limited to Tata Sons Limited at a price of Rs. 330/- per share, aggregating to Rs. 1249.99 crore.

Shares of TATA STEEL LTD. was last trading in BSE at Rs.228.55 as compared to the previous close of Rs. 230.2. The total number of shares traded during the day was 1207826 in over 12640 trades.

The stock hit an intraday high of Rs. 235.3 and intraday low of 228. The net turnover during the day was Rs. 279784469.

Shares of TATA MOTORS LTD. was last trading in BSE at Rs.328.4 as compared to the previous close of Rs. 337.9. The total number of shares traded during the day was 47021412 in over 44515 trades.

The stock hit an intraday high of Rs. 333.75 and intraday low of 324.5. The net turnover during the day was Rs. 15302377435.

Source : Equity Bulls

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