As per the latest shareholding data, Rekha Jhunjhunwala and Life Insurance Corporation of India (LIC) cut stakes in Tata Motors during the quarter ended June.

What Happened: As of June 30, Jhunjhunwala held around 4.23 crore shares or 1.28% stake in the auto giant, marking a slight decrease from the 4.28 crore shares or 1.29% stake held at the end of March. Her current stake is worth over ₹4,000 crore.

Insurance giant LIC also trimmed its stake to 2.94% from the 3.01% reported at the end of March. Mutual fund holdings, on the other hand, went up to 9.83% from 9.50.

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Shares of the auto giant were upbeat today going up over 1.5% to hit an intraday high of ₹1,008. The Tata Group company is scheduled to report earnings next week.

Analysts at Motilal Oswal expect Tata Motors to post a revenue of around ₹1.03 lakh crore with a profit after tax of around ₹4,000 crore.

Meanwhile, Kotak Securities projects the auto giant’s revenue to be ₹1.18 lakh crore with a net profit of ₹6,018 crore. Earlier in the month, the company announced discounts on its popular sports utility vehicles (SUVs), including revised starting prices for the Harrier and Safari, and extended benefits of up to ₹1.40 lakh on its range of SUVs.

Price Action: Tata Motors’ share price was up 1.71% to close at ₹1,006.95 on Monday.

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