Business Daily from THE HINDU group of publications
Friday, Jul 07, 2006
Business Daily from THE HINDU group of publications Friday, Jul 07, 2006 |
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Stocks Corporate - Mergers & Acquisitions Tata stocks riding on acquisitions, consolidation Rajesh Abraham
Mumbai , July 6 A combination of factors ranging from acquisitions to impact of global consolidation in their respective sectors and the benefit of riding this wave while hailing from a respectable business house, has triggered investor interest in select Tata company stocks. Shares finding fancy included those of Tata Steel, Tata Coffee, Tata Tea, Tata Power and Tata Chemicals. Chairman, Mr Ratan Tata, said on Wednesday that Tata Sons would raise its equity stake in Tata Steel to secure promoter's hold as it tackles consolidation trends in steel industry worldwide. Tata Coffee recently announced acquisition of Eight O' Clock Coffee in the US; it has proposed a rights issue. Tata Tea holds over 50 per cent-equity in Tata Coffee. Tata Power and Tata Chemicals interested investors given their modest promoter holding; in general, the Tatas seem to have "comfortable" but not "fully-secured'' equity holding in their companies.
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