Comments
Tata Metaliks stock gained nearly 3 per cent on the bourses on Monday on reports that the group company Tata Steel has acquired 34.92 lakh shares of the company following the conversion of warrants issued at Rs 642 a warrant.
The stock was up Rs 14, or 2.76 per cent, to Rs 520.95 on the NSE. Volumes traded in the counter were to the extent of 30,000 shares as at 10.45 am today.
Tata Steel has exercised its right to subscribe to one equity share per warrant of face value of Rs 10 each, aggregating to Rs 224.21 crore. (While 25 per cent was paid on application (March 28, 2019). The balance was paid on September 25, it said in a statement to the stock exchanges.
Tata Metaliks is one of India's leading producers of high-quality pig iron (PI) and ductile iron (DI) pipes. TML operates a plant near Kharagpur, West Bengal. Its offerings include a variety of branded products customised to meet specific user needs.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.