Tata raises stake in JLR owner

China Daily (Hong Kong) - - BUSINESS -

In­dia’s Tata Group in­creased its hold­ings in Tata Mo­tors Ltd, the owner of Jaguar Land Rover, be­fore a cru­cial share­holder meet­ing next week called to re­move the au­tomaker’s chair­man Cyrus Mistry from its board, peo­ple with knowl­edge of the mat­ter said. Group hold­ing com­pany Tata Sons Ltd boosted its stake by about 1.7 per­cent and is open to pur­chas­ing more eq­uity be­fore the Dec 22 ex­tra­or­di­nary gen­eral meet­ing, the peo­ple said, ask­ing not to be iden­ti­fied as the in­for­ma­tion is pri­vate. The group held 33 per­cent in Tata Mo­tors, of which Tata Sons owned 27 per­cent as of Sept 30, ac­cord­ing to stock ex­change fil­ings.

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