Reliance Mutual Fund increases stake in Tata Group's Indian Hotels to 8%

Visual from Tata website

Anil Ambani-led Reliance Mutual Fund has increased its stake in Tata group-operated Indian Hotels Co. Ltd (IHCL) to nearly 8 per cent from 2 per cent through multiple share purchases over the recent months, according to a report in PTI.

With this deal, Anil Ambani seems to be following the footsteps of his elder brother Mukesh Ambani whose Reliance Industries already owns a 18.53 per cent stake in EIH Ltd, the main listed entity from Oberoi Group that runs a chain of luxury hotels.

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