Tata Sons buys group company stocks in bulk deals

MUMBAI: Tata Sons bought shares of some of its group companies amid the sharpest one-day decline in the Indian market in over a decade on Thursday. Bulk deal data on the NSE showed that Tata Sons bought 1.66 crore shares of Indian Hotels Company at an average price of Rs 107.4 per share and purchased 1.85 crore shares of Tata Motors Differential Voting Rights shares at Rs 43.15 apiece.

The data showed that Tata Sons bought 1.39 crore shares of Tata Power Company at Rs 38.72 per share and bought 77.4 lakh shares of Tata Steel at Rs 287.44 per share. The data separately showed that Marwadi Enterprise sold 37.95 lakh Tata Motors DVR shares at Rs 42.65 apiece. Tata Power’s shares ended up 6.7% at Rs 40.50 on Thursday and Tata Motors DVR ended up nearly 2% at Rs 44.30. Tata Steel slipped 4% and Indian Hotels fell 3% to Rs 110.45 on Thursday.