Live
- 2024 on track to be hottest year on record
- PM Modi’s visit to Solapur: Women applaud ‘Double-Engine’ government’s initiatives
- Nagarkurnool MLA Dr. Kuchukulla Rajesh Reddy Campaigning in Maharashtra Elections
- Wife Kills Husband with Her Lover: Details of Veldanda Murder Case Revealed by SP Gaikwad
- Strict Action on Violations of Food Rights: Telangana Food Commission Chairman Goli Srinivas Reddy
- Smooth Conduct of Group-3 Exams with Strict Security Measures: Collector Badavath Santosh
- Delhi HC orders cancellation of LOC issued against Ashneer Grover, wife
- Shami’s absence a major blow for India in BGT, says Paul Adams
- Will organize protests at borders if attack on minority Hindus in Bangladesh not stopped: Bengal LoP
- Dutch Ambassador Marisa Gerard Meets Telangana CM A. Revanth Reddy in Delhi
Tata Sons to buy Tata Steel stake in Tata Motors on or after June 23
Tata Sons Ltd, the holding company of India\'s salt-to-software Tata conglomerate, plans to buy out Tata Steel Ltd\'s stake in Tata Motors Ltd on or after June 23, it said in a regulatory filing on Saturday.
Tata Sons Ltd, the holding company of India's salt-to-software Tata conglomerate, plans to buy out Tata Steel Ltd's stake in Tata Motors Ltd on or after June 23, it said in a regulatory filing on Saturday.
Tata Sons will buy about 83.6 million shares in Tata Motors at or around the prevailing price of the stock on the date of the planned acquisition, it said in the filing.
It cited "restructuring of investment portfolio" as the reason for the planned deal.
Tata Motors shares closed at 455.75 rupees in Mumbai trading on Friday.
Tata Sons owned 28.71 percent of Tata Motors at the end of March, while Tata Steel owned 2.9 percent in the vehicle maker.
Tata Sons owned 29.75 percent of Tata Steel at the end of March, while Tata Motors owned a 0.46 percent stake in the steelmaker, according to stock exchange data.
Indian media have reported that Tata Sons planned to reduce crossholdings among group companies.
