At least one member queried the rationale behind Tata selling TCPSL to TSI.
It is difficult to find a better scenario of trash for the seller becoming the gem for the buyer.
Tata Sons, the holding company of Tata Group, is set to furnish a critical assurance sought by the Reserve Bank of India, after reaching the last leg of receiving exemption from RBI over listing on stock exchanges.
Tata Sons to furnish an undertaking that the company will not be involved in any transaction that involves engaging in financial services, whether directly or otherwise.
Once this is done, Tata Son’s application for de-classification as NBFC-CIC should be granted.
FND Price at posting:
$4.33 Sentiment: Buy Disclosure: Held
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