Tata Steel gains on increasing stake in Medica TS Hospital
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Tata Steel is currently trading at Rs. 1171.35, up by 11.15 points or 0.96% from its previous closing of Rs. 1160.20 on the BSE.
The scrip opened at Rs. 1167.00 and has touched a high and low of Rs. 1173.10 and Rs. 1154.15 respectively. So far 59180 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1534.60 on 16-Aug-2021 and a 52 week low of Rs. 596.30 on 29-Jan-2021.
Last one week high and low of the scrip stood at Rs. 1182.20 and Rs. 1111.50 respectively. The current market cap of the company is Rs. 142457.36 crore.
The promoters holding in the company stood at 34.41%, while Institutions and Non-Institutions held 40.76% and 23.99% respectively.
Tata Steel has increased stake in Medica TS Hospital (MTSHPL) (a joint venture company) from 26% to 51% on January 7, 2022, upon conversion of: 5,102 Optionally Convertible Debentures (OCD) of Rs 1,000 each, fully paid-up, held in MTSHPL into 5,10,200 equity shares of face value Rs 10 each, fully paid-up, ranking pari passu with the existing equity shares of MTSHPL; and 4,92,298 OCDs of Rs. 1,000 each, fully paid-up, held in MTSHPL into 4,92,29,800 0.01% Optionally Convertible Redeemable Preference Shares (OCRPS) of face value Rs. 10 each, fully paid-up of MTSHPL.
MTSHPL is a joint venture company between Tata Steel and Medica Hospitals. The company is operating and managing its 100 bed multi-specialty hospital established in Kalinganagar, Odisha to provide health care facility to the general public.
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.
