Tata Motors shares tank 2.5% after block deal sale

17 Sep 2024 , 12:43 PM

Tuesday saw a 2.5% decline in Tata Motors shares to a day’s low of Rs 960 following reports that 1.9 crore of the company’s shares were exchanged in a block trade during an early intraday session. At Rs 970 per share, the deal size amounts to around 0.4% of the company’s total stock. This implies a total transaction value of Rs 1,758 crore.

Tata Motors’ promoters remained well-positioned at the end of the June quarter, with a 41.86% share in the business.

Tata Motors slashed prices on its well-known vehicles and SUVs by up to Rs 2.05 lakh as part of the “Festival of Cars.” Punch.ev is available for discounts of up to Rs 1.20 lakh, while Nexon.ev experienced price reductions of up to Rs 3 lakh. Tiago was now available for Rs 40,000 less. Tata Motors is providing free six-month charging at more than 5,500 Tata Power charge stations throughout India in addition to these reductions.

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