Tata Steel rises on completing merger of S & T Mining with itself
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Tata Steel is currently trading at Rs. 130.50, up by 0.55 points or 0.42% from its previous closing of Rs. 129.95 on the BSE.
The scrip opened at Rs. 132.45 and has touched a high and low of Rs. 132.45 and Rs. 130.50 respectively. So far 1028833 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 134.85 on 18-Sep-2023 and a 52 week low of Rs. 101.60 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 132.45 and Rs. 126.00 respectively. The current market cap of the company is Rs. 160848.18 crore.
The promoters holding in the company stood at 33.90%, while Institutions and Non-Institutions held 42.66% and 22.71% respectively.
Tata Steel has completed the merger of S & T Mining Company with itself. The scheme of amalgamation of S & T Mining Company (S&T Mining) into and with Tata Steel was approved and sanctioned by National Company Law Tribunal (NCLT) Kolkata vide order dated November 10, 2023.
Scheme of amalgamation has become operative and effective from December 1, 2023. In terms of the scheme of amalgamation, S&T Mining stands dissolved without being wound up, effective December 1, 2023. The company is in the process of merging a number of subsidiary companies with itself.
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.
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