Tata Motors falls as Tata Steel sells

Tata Motors is the top stock in terms of volumes clocked. Since morning it has shown a volume of 4,32,19,536. And it is also the top active stock in terms of value, at Rs. 1,405.96 crore. On the stock price front, the stock is down around 2% at Rs.332 with an intra day low of Rs.324.50.

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

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

As at 30th June 2015, Tata Sons held 25.67% stake or around 29 crore shares in Tata Motors while Tata Steel held 5.54% or over 16 crore shares.