Tata Steel has informed the stock exchanges that it bought 9.25 lakh shares of Tata Power on March 4. The transaction cost the company Rs 9 crore, it said.
Following the purchase, the stake of Tata Steel, a promoter group company, increased to 1.08 per cent from 1.04 per cent.
Meanwhile, the stock of Tata Power slipped 0.64 per cent to Rs 100.40 on the BSE around 11.20 am.