Press Trust of India / Mumbai Aug 28, 2009, 17:26 IST
Tata Motors, one of the promoter group companies of Tata Steel, has pledged its entire holding of over 1.04 crore shares in the steel major.
In a disclosure to the Bombay Stock Exchange (BSE), Tata Steel said Tata Motors has pledged 1,04,40,882 shares, representing 1.31 per cent stake in the company on August 27.
Calculated on the basis of the closing share price of Tata Steel on August 27, the pledging may have fetched Tata Motors an estimated over Rs 455 crore.
Shares of Tata Steel closed at Rs 438.60, up 0.50 per cent on the BSE.