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 decision was taken by TRF s Board on Tuesday, which approved the withdrawal of the scheme. The Board of Directors of Tata Steel has also consented to the withdrawal of the scheme, the filing said.
Tata Steel share price today: ICICI Securities in a morning note called Tata Steel's quarter results 'healthy'. For the quarter, Ebitda stood at Rs 6,264 crore compared with Rs 4,268 crore in the September quarter, largely due to low raw material cost.
Tata Steel Q3 earnings: Prabhudas Lilladher, which sees profit at Rs 250 crore, said TSE contribution to deteriorate further sequentially on GBP 30-35 QoQ drop in European prices and weak volumes at Tata Steel UK (down 10 per cent QoQ).