Tata Steel gains on acquiring 26% stake in TP Parivart
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Tata Steel is currently trading at Rs. 154.75, up by 1.75 points or 1.14% from its previous closing of Rs. 153.00 on the BSE.
The scrip opened at Rs. 153.05 and has touched a high and low of Rs. 155.20 and Rs. 153.05 respectively. So far 1342467 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 184.60 on 18-Jun-2024 and a 52 week low of Rs. 114.25 on 02-Nov-2023.
Last one week high and low of the scrip stood at Rs. 156.50 and Rs. 151.20 respectively. The current market cap of the company is Rs. 193243.90 crore.
The promoters holding in the company stood at 33.19%, while Institutions and Non-Institutions held 43.19% and 22.98% respectively.
Tata Steel has completed acquisition of 13,000 equity shares of face value Rs 10 each, at par, (i.e., 26% equity stake) of TP Parivart (TPPL) for an aggregate consideration of Rs 1,30,000.
Earlier, the company had executed Share Purchase & Shareholders’ Agreement (SPSA) with Tata Power Renewable Energy (TPREL) and its wholly owned subsidiary -- TPPL to acquire and hold 26% equity stake in TPPL.
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.
