Advertisement
Help
You are here: Rediff Home » India » Business » Business Headline » Report
Search:  Rediff.com The Web
  Advertisement
      Discuss  |             Email   |         Print  |  Get latest news on your desktop

Tatas disclose further pledging of shares
BS Reporter in Mumbai
 
 · My Portfolio  · Live market report  · MF Selector  · Broker tips
Get Business updates:What's this?
   
  Advertisement
February 12, 2009 11:15 IST

Tata Sons and other group companies have pledged shares of Tata Communications, Tata Chemicals [Get Quote] and Tata Tea [Get Quote], valued around Rs 2,418 crore (Rs 24.18 billion) at Tuesday's closing price.

The parent firm and promoter firm Panatone Finvest have pledged its 10.53 per cent stake, or 30 million shares, of Tata Communications.

On Tuesday's closing price of Rs 442.30, the value of the stake would be Rs 1,326.90 crore (Rs 13.26 billion). The promoters hold 76.24 per cent stake in the company.

Tata Chemicals disclosed that the promoters such as Tata Sons, Tata Tea and Tata Investment Corporation [Get Quote] have pledged 20.02 per cent stake, or 47 million shares, which is valued at Rs 706.75 crore (Rs 7.06 billion) at share price of Rs 150.10.

The promoters hold 29.20 per cent stake in Tata Chemicals.

Tata Sons has pledged 11.32 per cent stake, or 7 million shares, of Tata Tea. At the current share price of Rs 550.05, the pledged shares would be worth Rs 385 crore (Rs 3.85 billion).

The promoters hold 35.28 per cent in the company.

Powered by

       Email  |        Print   |   Get latest news on your desktop

© 2009 Rediff.com India Limited. All Rights Reserved. Disclaimer | Feedback