Tata Steel and ThyssenKrupp AG have signed a Memorandum of Understanding to create a leading European steel enterprise by combining the steel business of the two companies in Europe and the steel mill services of the ThyssenKrupp group.
The proposed 50:50 joint venture, ThyssenKrupp Tata Steel, would be focused on quality and technology leadership and the supply of premium and differentiated products to customers, with annual shipments of about 21 million tonnes of flat steel products, said the company in a BSE filing on Wednesday.
The JV would have a pro forma of about 15 billion euros (Rs 1,15,972 crore approximately) per annum and currently employs about 48,000 people spread across various locations, it added.
Meanwhile, the stock of Tata Steel was trading at Rs 680.70 per share, up by Rs 4.15 or 0.61% as at 1019 hours on Wednesday, on the BSE. It attracted a traded volume of 32,83,597 shares and traded value of Rs 22,441.42 lakh on the NSE. The company had hit its 52-week high of Rs 693 on September 12, 2017, and 52-week low of Rs 355.30 on September 19, 2016, on the NSE.
Capitalstars Financial Research Private Limited is a research house and an investment advisory carrying out operations in the Indian Equities and Commodity market.We also provide free trial to our client.Join our services and trade with us.
Get more details here:-
Trading Tips
* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
* CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
0 comments:
Post a Comment