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Tata Steel has sold 2.18% stake in Titan to Tata Sons

On Tuesday, Tata Steel said that it has sold 2.18 percent of its stake in the group firm Titan to Tata Sons for over Rs 637 crore.

The company in a BSE filing said, that it “has on August 11, 2015 sold 1,93,87,920 shares (2.18 percent) of Titan Company Ltd to Tata Sons Ltd through a market sale for a net consideration of Rs 637.46 crore.”

At the time of presenting the June quarter results it said in a statement that “Tata Steel continues its strategy of monetising non-core assets and has raised about Rs 1,000 crore during the quarter by selling a part of its equity portfolio.”

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