TRF shareholders were to get for 17 shares of Tata Steel for 10 of the company, which was a 53 percent discount at the time. The discount had narrowed to 10 percent as per the closing price of February 6
The profits have risen despite lower revenues on declining material costs.
Under the contract, the gas producer will provide 250 metric tonne of oxygen per day, along with nitrogen and argon, to cater to the increased requirements of TML's blast furnaces.
ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 900 in its research report dated January 18, 2023.
Is it prudent to invest in PVR or Inox ahead of their merger? Morgan Stanley laps up shares of Tata Metaliks. Also in the spotlight today are NTPC and Siemens.
ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 750 in its research report dated October 19, 2022.
Short-term benefits from proposed amalgamation is likely to be neutralised with the issuance of new shares of Tata Steel.
On Friday, the board of Tata Steel approved the amalgamation of its seven subsidiaries -- Tata Steel Long Products, Tata Metaliks, The Tinplate Company of India, TRF Limited, Indian Steel & Wire Products, Tata Steel Mining and S&T Mining -- into itself.
Most of the swap ratio is aligned with prevailing market prices. TRF shareholders will be the only losers as the stock had rallied massively in the last few weeks.
The 7 companies to be merged with Tata Steel are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF Limited, the Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company
The 7 companies to be merged are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF Limited, the Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company.
ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 690 in its research report dated July 15, 2022.
Demand for pig iron softened from mid-May, while prices witnessed a sharp drop after the imposition of export duty on steel by the government on May 22. The spread for pig iron turned negative for the first time in the last 10 years. In light of that and soaring raw material prices, Tata Metaliks' performance continues to be dismal. Should you still consider investing in the stock? Watch the video to find out
Investors need to watch out for ordering activity in ductile iron pipes and the merger with Tata Steel Long Products
The company has blamed low demand, high raw material prices and the 15 percent export duty for its dismal show
It had reported a net profit of Rs 94.72 crore in the April-June quarter of financial year 2021-22, the company said in a regulatory filing.
ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 900 in its research report dated April 27, 2022.
Merger with Tata Steel Long Products, ordering activity in ductile iron pipes remain critical areas to watch out for