Tata Group’s Tata AutoComp Systems has sold about 6.38 lakh shares or 6.26 per

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cent stake in its joint venture Automotive Stampings and Assemblie for Rs 3.58 crore via an open market transaction.

Automotive Stampings and Assemblies, one of the largest manufacturers of sheet metal components and assemblies for the automotive industry and started its operations in 1990. It is a joint venture between Tata AutoComp Systems and Gestamp Servicios, SL ASAL supplies a large range of components and assemblies to different sectors of the automobile industry in widely varying specifications. As of December, Tata AutoComp Systems had 43.86 per cent stake and Tata Industries had 100 shares in the venture, while Gestamp Servicios had a 37.50 per cent stake. .

On Monday, Tata AutoComp sold the shares at Rs 56.02 per share, while Lotus Global Investments bought 6.24 lakh shares at Rs 56 per share, bulk deal on bse showed. This is the second time this month the firm has sold is stake. On February 11, it had sold 10,000 shares. With Monday’s sales, its stake comes down to 37.5 per cent from 43.76 per cent.