Tata Steel Share Price | Positive Growth Expected in Future
Tata Steel stock is currently trading at Rs 130.20 (NSE) with a change of 0.27 percent and a net change of 0.35. This indicates a slight increase in share price with a positive percentage change of 0.54. The net change of 0.54 represents an actual increase in share price. Overall, Tata Steel’s stock is showing a positive trend. Additionally, important updates have been released regarding the company, suggesting that there may be more positive growth in the stock in the future.
Subsidiary of Tata Steel – Purchase of shares at issue price
Tata Steel Ltd recently purchased 26,22,890 shares of Rs 10 each in its wholly-owned subsidiary, Indian Steel and Wire Products Ltd (ISWP), at an issue price of Rs 427.01. The subsidiary plans to use Rs 112 crore to meet the cost requirement of a combi-mill project. Prior to this transaction, Tata Steel held a 95.01 percent equity stake in ISWP. With this deal, Tata Steel’s stake in ISWP will increase to 96.53 percent, and ISWP will continue to operate as a subsidiary of Tata Steel.
Signing of Memorandum of Understanding
Tata Steel, a leading global steel company, has signed a Memorandum of Understanding (MoU) with ABB India, a global technology leader, to collaborate on developing innovative models and technologies for reducing the carbon footprint of steel production. This partnership aims to contribute to sustainable steel production practices.
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News Title: Tata Steel Share Price on 11 September 2023.
