The decision by Daimler to exit Tata Motors after 56 long years has taken a toll on the shares of India's largest commercial maker in this morning's trades. The stock is trading at Rs 768, weaker by Rs 28 or 3.5%, on the BSE. The shares had opened at Rs 765 and have touched a high of Rs 789 and a low of Rs 750 thus far.
Daimler held a 5.34 per cent stake in the company. Tata Sons will not buy the stake, according to sources familiar with the development.
The Tata group holds 38.08 per cent stake in Tata Motors of which Tata Sons holds 27.89 per cent and other group companies hold the rest.
Daimler is the world's largest truck maker and is building a factory in Chennai that will begin production in 2012.
