Tata Steel divests from JV company, stock at 52-week high

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Tata Steel, in a BSE filing post market hours on Tuesday, said that the company has divested its entire equity stake in a 50% joint venture company Tata Elastron S.A. to Elastron S.A.

The stock of Tata Steel touched a 52-week high of Rs 561.95, gaining 1% in the early morning trade on Wednesday.

The company has entered into an agreement for stake sale on July 10 and received Euro 0.368 million from the divestment of stakes.

Tata Steel was trading at Rs 558.30, up by Rs 1.25 or 0.22% as at 1049 hours on Wednesday, on the BSE. The stock had hit an intraday high of Rs 561.95.

Stock view :-

Tata Steel Ltd is currently trading at Rs 557.55, up by Rs 0.5 or 0.09% from its previous closing of Rs 557.05 on the BSE.

The scrip opened at Rs 560 and has touched a high and low of Rs 561.95 and Rs 557 respectively. So far 1804154(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 54101.58 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 561.95 on 11-Jul-2017 and a 52 week low of Rs 319.85 on 11-Jul-2016. Last one week high and low of the scrip stood at Rs 561.95 and Rs 545 respectively.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 44.74 % and 23.91 % respectively.

The stock is currently trading above its 50 DMA.

Tata Steel Ltd :-
BSE 555.90 [1.15]    ([0.21]%)
NSE 556.20 [0.65]    ([0.12]%)


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