The Tatas have raised their stake in Tata Engineering and Locomotive by 2.7 per cent between March 31, 2000, and June 30, 2001.
As part of a strategy to increase promoters' shareholding, the Tatas have been raising their stake in the company through creeping acquisition route. They had hiked their stake by five per cent in 1999-2000.
As on June 30, 2001, Tata Sons hold 14.33 per cent and other Tata firms 11.18 per cent, totaling to 25.51 per cent in Tata Engineering.
The group's shareholding in the company as on June 30, 2001, is 2.7 per cent more than their stake of 22.8 per cent as on March 31, 2000.
Analysts said the Tatas, along with Tata Sons, hold shares in Tata Engineering through group companies such as Ewart Investment, Tata Investment, Tata Industries, Tata Finance, Tata Iron and Steel Company, Kalimati Investments Co, Sabras Investments, Varuna Investments, Bambino Investments, Tata International and Niskalp Investments & Trading Company.
The prominent non-promoters of the world's sixth-largest maker of commercial vehicle include banks and the Unit Trust of India (UTI), foreign institutional investors (FIIs), private corporate bodies, the public, NRIs and OCBs, with a small portion being held as global depository receipts (GDRs).
Domestic and foreign financial institutions jointly hold 32.38 per cent stake while others (the public, private corporate bodies and NRIs \ OCBs\ GDRs) hold the remaining 42.11 per cent stake.
The public holding in Tata Engineering came down marginally to 20.88 as on June 30, 2001, from the 20.10 per cent on March 31, 2000.
Tata Enterprises, the country's largest group employing Rs 26.7 crore in diversified areas, plans to expand capacity of Tata Engineering.
