Tata Investment Corporation received an overwhelming response on the bourses today, with the stock climbing nearly 13% in morning trade on the BSE after promoter group firm Tata Sons increased its stake in the company to 68.26%.
Shares of Tata Investment spurted by 12.78% to touch a high of Rs 553.50 on the BSE, while on the NSE, the stock zoomed up by 12.69% to touch an early high of Rs 554.
Tata Sons has hiked its stake to 68.26% upon conversion of detachable warrants. Prior to this, the entity had 65.21% shareholding in Tata Investment Corp.
Tata Investment Corp is mainly into investing in long-term investments such as equity shares and equity-related securities.
Meanwhile, the BSE 30-share Sensex was trading at 18,531.46 at 1052 hours.
