NEW DELHI: Shares of Tata Consultancy Services (TCS) on Monday declined nearly 2 per cent amid reports that its promoter Tata Sons is prone to promote a minority stake within the IT main. According to reports, TCS-promoter Tata Sons is planning to promote as much as 2.3 crore shares, representing a 0.64 per cent stake within the firm by way of block offers on Tuesday.
The supply worth for the block deal is probably going Rs 4,001 per share, which is a 3.45 per cent low cost in comparison with Monday’s closing worth for TCS, the reports stated.
The inventory of the corporate plunged 1.78 per cent to shut at Rs 4,144.25 apiece on the NSE.
On the BSE, it fell 1.72 per cent to settle at Rs 4,144.75 apiece.
During the day, shares of TCS hit its 52-week excessive of Rs 4,254.75 and Rs 4,254.45 apiece on the NSE and BSE, respectively.
In phrases of quantity, 15.27 lakh fairness shares had been traded on the NSE, whereas 39,000 shares had been traded on the BSE, in the course of the day.
At the supply worth, the whole transaction worth of the block deal comes as much as over Rs 9,202 crore.
As of December 2023, promoters and promoter group entities maintain a 72.41 per cent stake in TCS, of which 72.38 per cent shareholding is owned by Tata Sons.
Tata Group‘s shares have been within the highlight after a report from Spark Capital in March talked about that Tata Sons may go public by September 2025 to fulfill RBI’s scale-based rules.
RBI mandates that upper-layer NBFCs are required to listing on inventory exchanges inside three years. Tata Sons has been named amongst 15 upper-layer Non Banking Financial Companies (NBFCs).
At a market valuation of nearly Rs 15 lakh crore, Tata Consultancy Services is second most dear agency after oil-to-telecom conglomerate Reliance Industries Ltd.
With a complete market valuation of Rs 31.6 lakh crore, Tata Sons is the proprietor of 29 publicly-listed Tata Group entities.
The supply worth for the block deal is probably going Rs 4,001 per share, which is a 3.45 per cent low cost in comparison with Monday’s closing worth for TCS, the reports stated.
The inventory of the corporate plunged 1.78 per cent to shut at Rs 4,144.25 apiece on the NSE.
On the BSE, it fell 1.72 per cent to settle at Rs 4,144.75 apiece.
During the day, shares of TCS hit its 52-week excessive of Rs 4,254.75 and Rs 4,254.45 apiece on the NSE and BSE, respectively.
In phrases of quantity, 15.27 lakh fairness shares had been traded on the NSE, whereas 39,000 shares had been traded on the BSE, in the course of the day.
At the supply worth, the whole transaction worth of the block deal comes as much as over Rs 9,202 crore.
As of December 2023, promoters and promoter group entities maintain a 72.41 per cent stake in TCS, of which 72.38 per cent shareholding is owned by Tata Sons.
Tata Group‘s shares have been within the highlight after a report from Spark Capital in March talked about that Tata Sons may go public by September 2025 to fulfill RBI’s scale-based rules.
RBI mandates that upper-layer NBFCs are required to listing on inventory exchanges inside three years. Tata Sons has been named amongst 15 upper-layer Non Banking Financial Companies (NBFCs).
At a market valuation of nearly Rs 15 lakh crore, Tata Consultancy Services is second most dear agency after oil-to-telecom conglomerate Reliance Industries Ltd.
With a complete market valuation of Rs 31.6 lakh crore, Tata Sons is the proprietor of 29 publicly-listed Tata Group entities.
