Tata Technologies’ equity worth ₹1,367 Crore change hands

27 Aug 2024 , 02:32 PM

Tata Technologies Ltd. shares were trading down 2% on Tuesday (August 27). The stock opened lower after 1.3 Crore shares, or 3.3% of Tata Technologies’ total equity, changed hands in a block transaction today.

Shares were traded at an average price of ₹1,027, with a total transaction value of ₹1,367.4 Crore.

Last week, 2.9% of Tata Technologies’ equity traded at an average price of ₹1,019.8 per share. The total transaction value was ₹1,218.5 Crore.

As of the conclusion of the June quarter, Tata Technologies’ promoters owned 55.39% of the firm.

This significant transaction comes after another major stock sale occurred in the counter last week. In a block sale worth ₹1,218.50 Crore, private equity firm Alpha TC Holdings sold a total of 2.9% of its share in the company.

Meanwhile, the equity sale occurred nearly nine months after the Tata Group firm made its market debut in November last year. Tata Motors sold 11.4% of its investment in Tata Tech at the IPO, while Alpha TC Holdings sold 2.4%. As of the conclusion of the June quarter, Tata Tech’s shareholding statistics showed that Alpha TC still owned 4.34% of the company’s shares.

At around 1.11 PM, Tata Technologies was trading 2.63% higher at ₹1,076 per piece, against the previous close of ₹1,048.65 on NSE. The counter touched an intraday high and low of ₹1,078, and ₹1,021.55, respectively.

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