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Tata Steel hikes shareholding in Tinplate Company of India

06 Sep 2012 Evaluate

Tata Steel has hiked its shareholding in its subsidiary -- Tinplate Company of India -- by 14% for over Rs 87.92 crore. Following the acquisition, the company now holds 73.44% stake in the Tinplate. The acquisition was done through a voluntary open offer made to the shareholder of the Tinplate between August 7 and August 22.

Few days back, Tata Steel purchased 11.26% stake or 17.34 lakh shares of associate firm Tata Sponge Iron through a voluntary open offer.

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. 

Peers
Company Name CMP
JSW Steel 1255.00
Tata Steel 184.65
Steel Authority 181.60
Jindal Stainless 746.95
APL Apollo Tubes 2181.05
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