Tata Steel rises on acquiring stake in T Steel Holdings
Tata Steel is currently trading at Rs. 139.50, up by 1.50 points or 1.09% from its previous closing of Rs. 138.00 on the BSE.
The scrip opened at Rs. 137.50 and has touched a high and low of Rs. 140.40 and Rs. 137.20 respectively. So far 226573 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. 122.60 on 13-Jan-2025.
Last one week high and low of the scrip stood at Rs. 140.40 and Rs. 130.80 respectively. The current market cap of the company is Rs. 174830.80 crore.
The promoters holding in the company stood at 33.19%, while Institutions and Non-Institutions held 42.23% and 24.06% respectively.
Tata Steel has acquired 191,08,28,025 ordinary equity shares of face value $0.157 each aggregating to $300 million (Rs 2,603.16 crore) in T Steel Holdings Pte. (TSHP). Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the company.
Earlier, the company’s subsidiary -- Tata Steel UK had received approval form Neath Port Talbot Council’s planning committee for proposals to deliver state-of-the-art Electric Arc Furnace steelmaking in Port Talbot.
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.
