Tata Sons raises stake in Titan Company

Following Tata Sons raising stakes in Titan Company from 19.80 percent (as of December 2015) to 20.84 percent, shares of the latter increased 4 percent, as per reports.

Tata Sons is one of the major shareholders in the company within the promoters category. It increased its stake in Titan through a block deal with Tata Global, in which Tata Global sold its complete 92,48,060 equity shares held in Titan Company (or 1.04 percent of Titan’s paid up capital), as a market transaction, reports say. The shares were bought at an average price of Rs 337.70 a piece, amounting to a total value of Rs 312.30 crore.

Titan Company is a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO) with interest in watches, jewellery and eyewear.