Tata Technologies released its shareholding pattern for the September quarter. 

What Happened: Promoter holding in Tata Technologies dipped slightly to 55.22% from 55.39% in the June quarter. Tata Motors Finance reduced its shareholding in Tata Tech to 1.84% from 2%. Tata Motors’ shareholding remained unchanged at 53.39%.

Mutual funds increased their stakes to 2.36% from 1.56%. The number of funds holding a stake in the company also increased from 21 to 23. Insurance companies also increased their shareholding to 0.77% from 0.16%.

The foreign institutional investors more than doubled their shareholding to 3.62% from 1.63%. 

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The shareholding of retail investors in the company also increased, going up to 21.30% in the September quarter compared with 18.57% in June. The number of retail investors holding the stock also increased to 12.41 lakh from 12.08 lakh.

Tata Tech in its Q1 results reported a net profit of ₹160.38 crore, a drop of 1% from the previous quarter’s ₹162.03 crore. The company’s revenue was flat at ₹1,269.17 crore.

Price Action: Shares of Tata Technologies fell 0.75% to ₹1,069.60  on Thursday. 

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