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.
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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.
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