Tata Steel today announced merging group firm Tata Metaliks, which is into pig iron manufacturing, with itself.

Tata Metaliks has rallied 8% to Rs 48.50 on BSE in early morning deals after the company announced the amalgamation of the company with its group company Tata Steel.

Tata Metaliks has terminated its joint venture agreement with Kubota Corportion and Metal One Corporation for its ductile iron pipe business.

Tata Metaliks has rallied 11% to Rs 74.40, extending its Monday’s over 10% gain, after its parent company Tata Steel on Friday signed an Expression of Interest (EoI) with Karnataka government to set up a six million tonnes per annum (MTPA)

Pig iron maker Tata Metaliks today said it had alloted 10 million shares of Rs 100 each to one of its promoters Tata Steel on preferential basis.

Tata Metaliks has surged up to 9% at Rs 70 in late noon trades after reporting a net profit of Rs 14.93 crore for the quarter ended March 2012, against a net loss of Rs 5 lakh in the corresponding quarter of previous fiscal, due to lower raw material

Tata Metaliks has rallied 8% to Rs 72.90 after the company said its board has approved an issue of preference shares worth Rs 100 crore to its promoter, Tata Steel.

Tata Metaliks today said its board has approved an issue of preference shares worth Rs 100 crore to its promoter Tata Steel.

Tata Metaliks was locked in 10% upper circuit at Rs 70.05 after the company announced fund raising plans through preferential issue.

The Karnataka government has completed land acquisition for Tata Steel and Tata Metaliks integrated project at Haveri district, an official of the company said on Saturday.

Tata Metaliks has surged 12.5% to Rs 72.25, extending its Wednesday’s 19% rally, on the back of huge volumes.

Sinter plant, coke oven batteries would be added at Kharagpur, Tata Metaliks chairman, Koushik Chatterjee, said, on the sidelines of the company’s annual general meeting.

Tata Metaliks has rallied 9% to Rs 90 after the company said it is divesting the Redi facility in Maharashtra for a consideration of Rs 180 crore. The unit has a book value of Rs 114 crore.

Tata Metaliks, part of Tata Steel, has entered into an agreement with Fomento Resources group for divestment of Redi facilities, as part of a strategic review of its portfolio.

Tata Metaliks today said it had up to 15 days' iron ore inventory to feed the furnaces at its Redi plant in Maharashtra and may have to resort to closure if raw material supply does not get normalised within the next 7-10 days.

Tata Metaliks has shed 4.5% to Rs 95 after it reported a loss in the June 2011 quarter.

The company had recorded Rs 10.30 crore net profit in the corresponding quarter last fiscal, it said in a communique to the Bombay Stock Exchange (BSE).

Tata Metaliks has slipped 3% to Rs 153 after the company reported a net loss of Rs 0.41 crore on consolidated basis for the third quarter ended September 2010 as compared with a net profit of Rs 10.65 crore in same period of previous fiscal.

Tata Metaliks is trading 9% higher at Rs 130, on reports that the Tata group will invest Rs 7,000 crore in steel plant that the company plans to set up in Hayeri district in Karnataka, with the overall investment in the state pegged at Rs 10,000 crore.

The stock ended near the day's high at Rs 161 - up 4.5%. Around 4.9 lakh shares were traded on the BSE as against the two-week daily average trade of 1.59 lakh shares.