Tata Steel gains on acquiring equity stake in Tata Steel Advanced Materials
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Tata Steel is currently trading at Rs. 101.85, up by 0.30 points or 0.30% from its previous closing of Rs. 101.55 on the BSE.
The scrip opened at Rs. 101.70 and has touched a high and low of Rs. 102.15 and Rs. 100.30 respectively. So far 1571988 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 138.63 on 06-Apr-2022 and a 52 week low of Rs. 82.71 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 104.65 and Rs. 100.30 respectively. The current market cap of the company is Rs. 124556.22 crore.
The promoters holding in the company stood at 33.92%, while Institutions and Non-Institutions held 41.06% and 24.24% respectively.
Tata Steel has, on October 28, 2022, acquired 1,56,12,802 equity shares of Rs 10 each at an issue price of Rs 12.81 per share (including a premium of Rs 2.81 per share), of Tata Steel Advanced Materials (TSAML), for an amount aggregating to approximately Rs 20 crore.
On completion of the above acquisition, TSAML will continue to be a wholly owned subsidiary of the Company.
Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
