Indian Hotels gain after Tata Sons acquire stake from promoter entities

The stock was up 5% to Rs 137 on BSE in intra-day trade after Tata Sons acquired more than 6% stake in the company from three promoter entities as part of restructuring the investment portfolio

Indian Hotels Company was up 5% to Rs 137 on BSE in intra-day trade after Tata Sons acquired more than 6% stake in the company from three promoter entities as part of restructuring the investment portfolio.

Till 10:40 am; about 79.12 million equity shares representing 6.6% of total equity of Indian Hotels have changed hands on the BSE, the exchange data shows.

Tata Sons, the promoter of the company, will acquire upto 6.64% stake Sir Dorabji Tata Trust, Lady Tata Memorial Trust and Sir Ratan Tata Trust, Indian Hotels had said in a regulatory filing on March 6,