TATA Steel pledged shares revoked

TATA Motors on Friday announced that it had revoked one crore of its pledged shares of TATA Steel.

TATA Motors in a notification to the stock exchanges said that it is pledged 0.44 million shares of TATA Steel.

TATA Motors, in August, had announced that it had pledged its entire stake of 1.04 crore shares in TATA Steel.

The selling price was INR 1,233.4 a share aggregating to INR 99.9 crore. With this transaction, TATA Sons’ stake in Titan Industries increases to 10.68% from 8.87% and TATA Chemicals decreases to 1.5% from 3.35%.

Sourse From: http://www.steelguru.com/news/index/2009/09/14/MTExNTkx/TATA_Steel_pledged_shares_revoked.html

Posted in: industrial news