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Tata Steel Limited stock posts biggest gain; Merger with Thyssenkrupp

Shares of Tata Steel Limited logged the biggest gain in last three weeks in the morning deals on Friday with the share price rising upto 3 percent. Tata Steel Limited is set to become second-largest steel manufacturing company in Europe after the proposed merger with Thyssenkrupp gets completed, as per reports.

The merger proposal of Tata Steel and Thyssenkrupp was first announced in September 2017 and it is nearing completion.

The stock of Tata Steel Limited hit a high of Rs. 567.20 on NSE during late morning hours Friday, and is trading up by 3.07% at Rs. 565.30 on NSE at the time of this updation.

The stock of Tata Steel Limited posted the biggest gain since 7 June and the stock was trading at the upper level since 21 June 2018. The labour representatives of Thyssenkrupp have signaled their support for a planned JV with Tata Steel.