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In the driver’s seat

Cyrus Mistry picked up stakes in his personal capacity in two group companies, Tata Power and Tata Motors

AP

Looks like the scion of the Shapoorji Pallonji group and chairman of Tata Sons, Cyrus Mistry, is making his preferences quite obvious. The 43-year-old has picked up stakes in his personal capacity in two group companies, Tata Power and Tata Motors. While Mistry purchased over 60,000 shares (0.0027% voting right) of Tata Power from the open market for ₹46.7 lakh at an average market price of 77.76 per share, he picked up 14,500 ordinary shares of the auto major at 337.51 per share, giving him a 0.0005% stake with voting rights. Interestingly, Ratan Tata, who stepped down as chairman of Tata group of companies last December, too, had bought 425,000 shares of Tata Motors in his personal capacity. In doing so, Tata has increased his holding in the company to 0.05%, comprising 1.3 million ordinary shares and 109,000 shares with differential voting rights. It seems like Mistry wants to make the most of the good tidings in store for the group companies. While the Central Electricity Regulatory Commission is considering a compensatory tariff hike for Tata Power, Tata Motors is doing well on the JLR front and is all set to unveil a new line-up of passenger vehicles. 

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