Tata Steel calls off merger with TRF newindianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newindianexpress.com Daily Mail and Mail on Sunday newspapers.
Tata Steel has merged five companies with a cumulative turnover of ₹19,700 crore. This merger is part of the company's commitment to simplify its business portfolio. Stay updated with the latest news.
Tata Steel on Wednesday announced the merger of five strategic businesses of the group with itself as part of an integration process aimed at simplifying business portfolio.
Shares of TRF, a Tata Group company, hit the 20% upper circuit limit, reaching an eight-year high of ₹393.30 apiece, following the decision against proceeding with the amalgamation process.
In concurrence with the decision of TRF Limited, the Tata Steel board also decided to withdraw the scheme, which was announced on September 22, 2022 as part of a wider consolidation of nine group companies