Diversified business group Tata's holding company Tata Sons will sell 1.5 per cent stake in TCS for an amount of almost United States dollars 1.3 billion (Rs 8,500 crore).
After the proposed share sale, Tata Sons' holding in Tata Consultancy Services (TCS) will come down to around 72 % from 73.52 % as on December, 2017.
That would be a discount of 4.2 to 5.9 percent to TCS's Monday closing price of 3,052.15 rupees.
Hillary Clinton: United States "doesn't deserve Trump" In addition, Clinton said President Trump ran "the first reality TV campaign", and was the first "reality TV candidate". Former Secretary of State Hillary Clinton said United States does not deserve Donald Trump as a leader.
On NSE, shares of the company dived 5.90 % to ₹ 2,872. The stock had hit a high of Rs 2,929 and a low of Rs 2,885.20 so far during the day. Tata Sons may buy the stakes from otherTata Group affiliates, which would help to reduce cross-shareholdings, according to the person.
At 10.40 am, shares of TCS were down 4.8% at Rs 2,905.80 on the National Stock Exchange.
The holding company is also seeking a $1.5 billion offshore syndicated loan, as it seeks to pay down expensive debt at its telecommunications unit, people familiar with the matter said last week. The plan is to pare the debt in the wireless telecom units - Tata Teleservices and Tata Teleservices (Maharashtra) - and to shore up equity interests in key Tata group companies. While a year ago Tata Songs boosted its stake in Tata Motors Ltd, the owner of Jaguar Land Rover, it is also planning to buy 6.6 percent additional stakes in Indian Hotels Co. that was held by Tata Trusts.
His own Party of National Unity, which was the biggest political movement in the outgoing congress, finished fifth overall. The goal now: "to win", Petro wrote in a Tweet Sunday night. "Our results were very positive", Petro told his followers.
Federer returned to stadium court on Sunday afternoon and needed an hour to close out his second-round victory 6-3, 7-6 (8/6). South African seventh seed Kevin Anderson also prevailed in his second round match, 7-5 6-4 over Russian Evgeny Donskoy .
Welles Wilder, the Relative Strength Index (RSI ) is a momentum oscillator that gauges the speed and change of price movements. Raymond James Financial reaffirmed a "hold" rating on shares of ZIOPHARM Oncology in a report on Monday, December 11th.
German prosecutors deemed Groening to be fit enough to go to prison as long as there was appropriate medical care. At his trial, he said he witnessed individual atrocities, but did not acknowledge participating in any crimes.
Chris Mellon, a TTSA advisor and former deputy assistant secretary of defense for intelligence in the Clinton and George W. Newly declassified video footage shows Navy pilots sighting an unknown craft that some speculate is of alien origin.
With March 20 being the National Day of Happiness, the survey aimed to find out whether or not money buys happiness or not. Columbia ranked between Madison, Wisconsin which came in eleventh and San Francisco, California which ranked thirteenth.
The sports news website said that Sherman's release will not be the last for the team's veteran players. Sherman was still playing at a high level when an achilles injury ended his season in Seattle early.
He has topped 1,000 yards receiving in each of his four pro seasons, amassing 309 receptions for 4,579 yards and 32 touchdowns. On offense (besides quarterback), expect the Jets to be aggressive at running back, center and possibly wide receiver.
If the Broncos had that kind of quarterback play a year ago , I don't think we'd be talking about a five-win team. It feels like the quarterback dominoes will fall after Kirk Cousins makes his decision.
Sevilla stayed fifth but 11 points behind Valencia in the fight for a Champions League spot next season. I want to reach the final five rounds with chances. "If that happens, we will talk of something else".
The two clubs are the most successful English teams ever, with 38 league titles and many European cups shared between them. However, he is focusing on his club football first and would dearly love to win his first trophy with the Reds.
West Indies to play 3 T20s in Karachi next month
Karachi will also host the PSL final on March 25, while Lahore will host two play-off games on March 20 and 21. Najam Sethi announced on Sunday that West Indies cricket board has been agreed to play T20 series in Pakistan.
Liverpool stars disagree over who they want to play next
Following Liverpool's 2-1 defeat to Manchester United , runaway leaders City are 18 points clear of the Reds with a game in hand. Roberto Firmino has revealed who his preference in terms of who Liverpool will draw in Champions League quarter-final.
Woods, Els to captain Australia Presidents Cup
The two players infamously went head-to-head in a play-off in the 2003 Presidents Cup after the match ended in a 17-17 tie . Els will take over the global lead reins from Zimbabwean Nick Price.
How to watch American Idol Season 16 premiere live online
What's the same, at least in Sunday's two-hour taped-auditions première? The new judges, like the old ones, are also mostly OK. They are not as pointed as they could be in offering criticism, which in turns takes some of the shine off their praise.
Bride on way to wedding arrested for DUI after vehicle crash
Scott also said the 32-year-old did not take a breath test so there are no preliminary blood alcohol concentration (BAC) results. A bride-to-be in Arizona was arrested en route to her wedding on Monday for allegedly driving under the influence.