Tata Motors spurts 6% on Ratan Tata’s stake hike
Shares of Tata Motors on Friday soared by nearly 6 per cent after the company said its Chairman, Ratan Tata purchased 4,25,000 shares for Rs.9.93 crore in the company through the open market route.
The heavyweight counter settled at Rs.240.05, up 5.75 per cent on the BSE. During the day, the scrip shot up by 6.36 per cent to Rs.241.45.
At the NSE, Tata Motors was up 5.65 per cent at Rs.239.50.
On the volume front, 33.43 lakh shares were traded on the BSE, while more than one crore shares changed hands on the NSE during the day.
“Ratan N Tata has purchased 4,25,000 ordinary shares of the company having a face value of Rs.2 each on National Stock exchange (NSE),” Tata Motors Ltd said in a disclosure to the BSE.
The buy value of the shares is Rs.9.93 crore at the purchase rate of Rs.233.87 per share, it added.