Life Insurance Corporation of India (LIC) has curtailed its holdings in Tata group firms, dreading that a potentially long legal battle between Tata Sons Ltd and its ousted chairman Cyrus P. Mistry will reduce its investments. Foreign portfolio investors (FPIs) and mutual funds have been more buoyant, with the latter growing their ownership in 12 Tata group firms and cutting their stake in seven.
The Story: Twenty-seven Tata group firms are listed. In the December quarter, state-run LIC, India’s biggest investor, cut its stakes in seven out of the 11 Tata group firms it owns stakes in. Stock View of Tata Group: Trent share price has gained 17% since October 22nd till 30th January 2017. Tata Elxsi share price have gone up by 7%. Indian Hotels share price has tanked 18% during the time. Tata Motors share price corrected 4%. Tata Steel share price gained 9% since October 22nd till 30th January 2017.
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