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Tata Steel gains on divesting its entire stake in Lanka Special Steels

01 Apr 2015 Evaluate

Tata Steel is currently trading at Rs. 318.30, up by 1.45 points or 0.46% from its previous closing of Rs. 316.85 on the BSE.

The scrip opened at Rs. 316.50 and has touched a high and low of Rs. 318.60 and Rs. 316.10 respectively. So far 35,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 578.60 on 09-Jun-2014 and a 52 week low of Rs. 311.30 on 27-Mar-2015.

Last one week high and low of the scrip stood at Rs. 326.70 and Rs. 311.30 respectively. The current market cap of the company is Rs. 30,889.00 crore.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 42.79 % and 24.14 % respectively.

Tata Steel has divested its entire stake in Lanka Special Steels (LSSL) to E.B. Creasy & Company PLC (EBCC) for a total consideration of LKR 433 million amounting around Rs 20.4 crore in an all cash deal.

LSSL was a wholly owned subsidiary of Tata Steel incorporated in Sri Lanka. It is engaged in the business of manufacturing and supplying hot dip galvanized wire and nail wire with an installed capacity of 14,400 metric tonnes per annum. It had an annual turnover of LKR 1,569 million amounting to Rs 74 crore in FY 14.

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.


Tata Steel Share Price

214.45 -2.60 (-1.20%)
08-May-2026 16:59 View Price Chart
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