Tata Steel rises on TCP unit sale to Thai firm

BSE 10 Feb 12 | 12:00 AM

475.00		23.9 (5.3%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500470

Face Value: N.A.

NSE 10 Feb 12 | 12:00 AM

475.05		22.9 (5.06%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: TATASTEEL

Performance
1 Week	:	Rs	467.25	(1.66%)
1 Month	:	Rs	382.50	(24.18%)
1 Year	:	Rs	595.05	(-20.17%)

Tata Steel rises on TCP unit sale to Thai firm

SI Reporter / Tata Steel 30 Aug 10 | 09:56 AM

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Tata Steel is trading 3% higher at Rs 524 after the company signed a Memorandum of Understanding (MoU) with Thailand’s Sahaviriya Steel Industries (SSI), setting the scope of a possible deal for sale of its Teesside Cast Products (TCP) facility for around $500 million.

The assets covered by the MoU include Redcar and South Bank coke ovens, TCP’s power generation facilities and sinter plant, the Redcar Blast Furnace and the Lackenby steelmaking facilities.

The stock opened at Rs 518 and touched high of Rs 529 on the BSE in early trades. As many as 417,000 shares have been traded so far.