New Delhi: India's largest commercial vehicles maker Tata Motors Ltd's Chairman Ratan Tata has increased his shareholding in the company to 0.05% from 0.03% earlier through an open market transaction, a regulatory statement said Friday.
Shares of Tata Motors Friday surged as much as 6% on the news.
The billionaire industrialist has acquired 425,000 ordinary equity shares with a face value of Rs 2 each on the National Stock Exchange for a total consideration of Rs 99.4 million through the open market transaction, the statement said.
The transaction was carried out through Dhanki Securities Pvt Ltd, it added.
Earlier Friday, Tata Motors reported a 12% on-year jump in its global sales to 96,089 units in May, on account of a 35% surge in the sales of its British luxury carmaking unit Jaguar Land Rover (JLR).
However, in April, the British carmaking unit's sales fell 31% on-month, due to the global economic uncertainty primarily emanating from the Euro zone debt crisis. The company expects to offset the economic slump in Europe with demand for its vehicles from its key market China.
Shares of Tata Motors Friday closed at Rs 240.05, up 5.75% on the Bombay Stock Exchange, from its previous close.