TRF gains on raising Rs 74 crore from Tata Steel
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TRF is currently trading at Rs. 158.70, up by 1.35 points or 0.86% from its previous closing of Rs. 157.35 on the BSE.
The scrip opened at Rs. 158.10 and has touched a high and low of Rs. 159.45 and Rs. 158.10 respectively. So far 25 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 374.35 on 22-Sep-2022 and a 52 week low of Rs. 109.10 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 171.40 and Rs. 155.70 respectively. The current market cap of the company is Rs. 173.15 crore.
The promoters holding in the company stood at 34.12%, while Institutions and Non-Institutions held 0.24% and 65.63% respectively.
TRF has raised Rs 74 crore from Tata Steel. In this regards, the Committee of Directors, as authorized by the company's Board of Directors, at its meeting held on March 1, 2023 approved the allotment of 7,40,00,000, 12.17% (effective yield) non-cumulative, non-convertible, non-participating, redeemable preference shares of face value Rs 10 each, at par, for consideration in the form of cash, aggregating to Rs 74 crore, (NCRPS Tranche-II) to Tata Steel, on private placement basis. The said NCRPS will be unlisted.
TRF has been engaged in the business of designing & manufacturing of the Bulk material handling systems and equipments for core sector industries such as power, ports, steel, mining and cement for projects undertaken on Turnkey basis.
