Tata Investment soars 20% on Tata Sons` open offer
Active Stock: Tata Investment soars 20% on Tata Sons` open offer Shares of Tata Investment (Q, N,C,F)* Corporation surged 20% at the BSE after Tata Sons, the holding company of the Tata group, made an open offer at a price of Rs 600 a share. Currently, the shares of the company are trading at Rs 540.10 at the BSE compared to the previous close of Rs 450.10. A total of 1,638 shares have changed hands at the bourses.(10.21 a.m., Monday) The stock has shown a rise of 22.39% over the week and 26.53% over a month.
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The offer price (Rs 600) represents a premium of 33.33%, over Sep. 14, 2007 closing price of Rs 450 at the BSE.
Presently, Tata Sons along with other group companies hold 60.61% of Tata Investment Corporation. Tata Sons plans to acquire additional 29.29% stake from the public shareholders, who presently hold 39.39% of Tata Investment Corporation.
