 "tata motors")
Reducing cross-holdings among the Tata group companies has been one of the top priorities for N Chandrasekaran since he took charge as chairman on February 21. And, on this to-do list Tata Steel has been the most important entity because of its Rs 83,014-crore gross debt at the end of March, which is 2.3 times its equity.
On Saturday, Tata Sons said it would buy 83.6 million shares or 2.85 per cent stake in Tata Motors from Tata Steel on or after June 23. These shares of the automaker are currently valued at Rs 3,809 crore, at the current market
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