Vanguard sells shares worth Rs 450 cr in Tata Motors, UPL

MUMBAI: Vanguard Emerging Markets today offloaded shares of Tata Motors and United Phosphorous for over Rs 450 crore through open market transactions.

The entity sold about 1.89 crore shares of the two companies, according to data available on the bourses.

The Vanguard Group is an American investment management company. Vanguard Emerging Markets Stock Index Fund A Series sold nearly 1.45 crore shares of Tata Motors, in a deal valued at Rs 398.38 crore. It offloaded the scrips at a price of Rs 274.43 apiece.

At the end of September quarter, Vanguard Emerging Markets Stock Index Fund A series of Vanguard International equity Index X fund, held around 2.97 crore shares -- or 1.10 per cent stake -- in Tata Motors.

In another deal, Vanguard Emerging Markets sold 44.27 lakh shares of agro chemical firm United Phosphorous Ltd( UPL) for Rs 51.80 crore. The stocks were offloaded at a price of Rs 117 per piece.

At the BSE, shares of Tata Motors dropped 1.44 per cent to close at Rs 274.25 while that of United Phosphorous rose 4.33 per cent to end the day at Rs 119.20.