Tata Steel Approves Merger Of Seven Subsidiaries With Itself

The board of Tata Steel Ltd. has approved the merger of seven of its subsidiaries with itself, in a move that will simplify the structure of the steelmaker and achieve better facility utilisation.

Implications Of The Share Swap

Shares of various companies involved in the scheme of amalgamations reacted on Friday. While Tata Steel gained as much as 4.1%, Tata Steel Long Products lost over 13% intraday. Shares of Tinplate Co. of India lost over 7.5%. Tata Metaliks fell nearly 5.9% and TRF shed 5.3%.