Tata AutoComp Systems has sold a circa 6% stake in its joint venture firm Automotive Stampings and Assemblies for INR35.8m, stock market data showed.
Automotive Stampings, which supplies sheet metal components to the automotive industry, is a joint venture between the Tata group firm and Spain’s Gestamp Servicios.
Data on India’s BSE showed Tata AutoComp had sold 638,790 shares at INR56.02 each, according to Reuters.
As of end-December, Tata AutoComp had a 43.86% stake in Automotive Stampings with Gestamp owning 37.5%, BSE data showed.
Automotive Stampings shares closed down 2.7% in a weak Mumbai market.