Tata Steel surges on acquiring additional stake in IFQM
Tata Steel is currently trading at Rs. 154.70, up by 1.60 points or 1.05% from its previous closing of Rs. 153.10 on the BSE.
The scrip opened at Rs. 154.00 and has touched a high and low of Rs. 155.40 and Rs. 152.25 respectively. So far 229038 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. 156.90 and Rs. 151.75 respectively. The current market cap of the company is Rs. 191745.88 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 additional 1,24,90,000 equity shares of face value Rs 10 each aggregating to Rs 12.49 crore in Indian Foundation for Quality Management (IFQM). Post the acquisition, the Company’s aggregate shareholding in IFQM has increased from 9.09% to 16.66%.
IFQM is a not-for-profit company, incorporated on September 6, 2023, under Section 8 of the Companies Act, 2013, with the primary objective of being an integrated empowered foundation which would be at the forefront of driving positive change in the Indian industry.
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.
