Reuters logo
BUZZ-India's Tata Power gains on hopes of group co stake sale to parent
September 13, 2017 / 7:54 AM / 2 months ago

BUZZ-India's Tata Power gains on hopes of group co stake sale to parent

** Shares of Tata Power Co Ltd rise as much as 7.04 pct, its biggest intraday pct gain since July 10

** Over 25 mln shares change hands by 0748 GMT vs 30-day avg volume of 4.1 mln

** Analysts cite market speculation that company may sell some of its stake in Tata Group companies to Tata Sons, in a move to reduce the complex cross-holding structure of the conglomerate

** Other Tata units, Tata Global Beverages and Tata Chemicals Ltd on Tuesday proposed to sell up to 10.5 mln and 43.2 mln shares they held in each other, respectively, to Tata Sons

** Shares of Tata Chemicals were up 1.6 pct, while those of Tata Global Beverages were down 0.8 pct

** Up to Tuesday’s close, Tata Power shares had gained 6.7 pct this year

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below