Munbai: Tata Sons, the holding company of salt-to-software Tata conglomerate, is set to sell more than $1 billion worth of shares in flagship Tata Consultancy Services in a block deal on Tuesday, a source with knowledge of the matter told Reuters.
It is learnt that Tata Sons will be selling close to 2.83 crore shares, which translates to about 1.48 per cent of the software services firm.
Apollo Global Management LLC (APO) Director Sells 94723 Shares of Stock
Moreover, Tealwood Asset Management has 1.37% invested in Apollo Global Management, LLC (NYSE:APO) for 126,621 shares. (NYSE:KR). About 36.94M shares traded or 25.00% up from the average. (NYSE:APD) has risen 9.23% since March 10, 2017 and is uptrending.
Some reports said Tata Sons may already have sold stake after markets opened on Tuesday, while others suggested that the sale took place on Monday evening. The money raised from the stake sale will be used by Tata Sons to strengthen its balance sheet. Tata sold Tata Teleservices Ltd.'s mobile-phone operations to Bharti Airtel Ltd. past year and pledged to pay the unit's obligations.
Analyst rating score for ZIOPHARM Oncology, Inc. (ZIOP) stands at 2.50
Investors look at the Volatility 12m to determine if a company has a low volatility percentage or not over the course of a year. Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements.
The conglomerate has been planning to raise its ownership over time in five of its largest businesses including Tata Chemicals Ltd. and Tata Steel Ltd., Bloomberg News reported a year ago.
The offering for the Tata Consultancy stocks are to be arranged by Citigroup Inc. and Morgan Stanley with a price range representing a 4.2 percent to 5.9 percent discount to its last closing.
2 dead in chopper crash in New York City's East River
Photo A diver with the New York Fire Department is hosed down after he pulled victims from the submerged helicopter. CBS2 asked Liberty Helicopters where the tool was located, but they didn't respond.