Tata Steel divests entire stake in joint venture company
DSIJ Intelligence / 12 Jul 2017
Tata Steel was trading 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.
In a BSE filing post market hours on Tuesday, Tata Steel said that the company had divested its entire equity stake in a 50 percent joint venture company Tata Elastron S.A. to Elastron S.A.
The stock of Tata Steel touched 52-week high of Rs 561.95, gaining 1% in the early morning trade on Wednesday.
At Rs 558.30, Tata Steel was trading 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.
The company has entered into an agreement for stake sale on July 10 and received Euro 0.368 million from the divestment of stake.
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