TRF share price hits upper circuit of 20% at Rs 327.70, scaling its new 52-week high after the company announces that they will not proceed with scheme of amalgamation with Tata Steel which was announced in September 2022. The company said that they have filed with NCLT branch of Kolkata bench to withdraw the scheme of amalgamation with Tata Steel. NCLT has further convened meeting of shareholders on February 8, 2024.
On the company, TRF said that their last few quarters have seen much improved business performance. They further stated that Tata Steel board has consented to withdraw the scheme announced earlier in 2022. TRF stock has surged over 70% in the last six months and close to 100% in the last one year.
TOPICS:
Tata Steel