Metal Sector

Following this merger, Tata Steel’s assets will grow to Rs1.25 lakh crore, as per the sources.

The issue size includes the issuing of up to 62.51 lakh fully paid-up equity shares with a face value of Rs10 through the book-building procedure.

The Bank Nifty index climbed over 425 points. All the sectors are trading in the green.

While Creixent Special Steels (CSSL) is engaged in the business of holding investments, JSW Steel and JSW Ispat are engaged in the production and marketing of steel products.

Tata Steel Long Products has acquired a 93.71% stake in 1 million tons per annum Neelanchal Ispat Nigam.

CMD Sumit Deb, who was in the capital, told Press Trust of India that the demerger of NSP from NMDC is proceeding as planned.

The acquisition will see Jindal Mobilitric take over the indigenously developed technology platform as well as Earth Energy's brands.

The media report is baseless and has no substance, said company.

Additionally, the financial creditors of RFT will get 10% of the equity shares of RFT towards the part conversion of their loan.

Hindustan Copper and Vedanta were also in the fast lane amid raging copper and aluminium prices.