Admin Reporter- POOJA1

Sep 23 2020

Top headlines: Mistrys eye huge windfall; Sebi to prescribe MF stress test

Wednesday, 23 September 2020

Mistrys eye huge windfall, set Rs 1.8-trillion price tag for exit

The Shapoorji Pallonji (SP) group has valued its stake in Tata Sons at close to Rs 1.78 trillion. The valuation is based on the current value of Tata Sons' shares in group listed companies such as Tata Consultancy Services (TCS), Titan Company, Tata Motors, and unlisted subsidiaries including Tata Capital and Tata AIA Life Insurance.



Shapoorji Pallonji Group agrees to exit Tata Sons, calls for separation

In an attempt to end the long-standing and bitter dispute with the Tata group, the SP group, owned by the billionaire Mistry family, on Tuesday told the Supreme Court (SC) that it would exit Tata Sons, provided an early, fair, and equitable solution was reached. In a late evening statement, the Mistry family said a separation from the Tata group was necessary due to the potential impact the ongoing litigation could have on livelihoods and the economy. 

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