Tata Sons hiked its stake in the jewellery maker Titan Industries from 10.85 per cent to 15.22 per cent by acquiring an additional 4.37 per cent stake from Kalimati Investment Co, a subsidiary of Tata Steel.

In a filing to the Bombay Stock Exchange (BSE) on Thursday, Titan Industries revealed that Kalimati Investment Co transferred its 387, 80, 000 equity shares in Titan Industries to Tata Sons.

The filing added that the transferred shares represent 4.37 per cent stake, which Tata Sons acquired for Rs 979.21 crore. Tata Sons acquired the new stake as part of restructuring of its investment portfolio.

While Tata Sons' stake in Titan jumped to 15.22 per cent after the transaction, Kalimati's holding slipped to 4.37 per cent.

Commenting on the stake deal, Sonam Udasi of IDBI Capital said that Tata Sons might be looking at increasing investments in companies like Titan with an intention reap gains in the long-run.

Speaking on the topic, Udasi said, "Though the company's growth has been slow in the last 3-4 quarters, due to a slowing economy and pressure on gold prices, we expect the company to bounce back to its original growth levels of 50 per cent in another one year."

Tata Sons boasts investments in more than 100 group companies.

Stock in Titan Industries gained 1.91 per cent in the after-hours trading on Thursday to close at 256.50 a share.