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Journalism of Courage
Power utility Tata Power said one of its promoters,Tata Sons,has revoked over 2.16 crore pledged shares of the company.
In a regulatory filing today,Tata Power said that Tata Sons has revoked 2,16,55,000 shares of the firm that were pledged.
The transaction happened on July 18.
According to the filing,Tata Sons now has 52,05,000 pledged shares,accounting for 2.19 per cent of the total outstanding shares of Tata Power.
Tata Sons owns more than 7 crore shares of Tata Power.
At the end of June,Tata Sons had 29.81 per cent stake in the power utility.
Shares of Tata Power today gained 1.31 per cent to close at Rs 1,304.85 on the Bombay Stock Exchange.
