Tata Sons, on the other hand, bought 7.74 million shares or 0.69 per cent stake, worth Rs 222 crore, in Tata Steel at an average price of Rs 287 per share. The name of the sellers could not be ascertained immediately.
Further, Tata Power Company moved higher by 6 per cent to Rs 42.85, bouncing back 18 per cent from the day’s low today. Indian Hotels, too, was up 5 per cent to Rs 116, recovering 21 per cent from the intra-day low of Rs 96 on the NSE.
Tata Sons bought Rs 177 crore worth of shares in Indian Hotels at an average buying price of Rs 107. The promoter, on the other hand, bought 13.87 million shares worth Rs 53 crore in Tata Power, bulk deal data shows.
Thus far in the calendar year 2020, Tata Steel (down 39 per cent), Tata Power (down 28 per cent) and India Hotels (down 24 per cent) have underperformed the markets
till Thursday. The Nifty50, in comparison, was down 21 per cent during the same period.