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Mr Ratan Tata, Chairman of Tata Motors, bought 4.25 lakh shares at an average price of Rs 233.87 a share through open market purchase, spending Rs 9.93 crore.
After the acquisition, Mr Tata's holding in the company moved up to 0.05 per cent from 0.03 per cent.
In a filing to the NSE, Tata Motors said Mr Ratan Tata had purchased 4.25 lakh ordinary shares on June 14, having a face value of Rs 2 each. Following this announcement, the share price of Tata Motors jumped 5.75 per cent to Rs 241.45.
The company said the transaction was carried out through Dhanki Securities Ltd.
Shares post gain
Tata Motors DVR (differential voting rights) shares also gained 4.5 per cent at Rs 140.75.
On the volume front, 33.43 lakh shares were traded on the BSE, while more than one crore shares changed hands on the NSE.
After hitting a 52-week high of Rs 320 on the bourses in April, the Tata Motors stock nosedived sharply. The stock has lost over 25 per cent since then.
Promoters holding in Tata Motors stood at 34.81 per cent at the end of March 31, while domestic institutions and foreign institutional investors held 12.75 per cent and 27.9 per cent respectively.
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