Tata Steel's partly paid shares zoom six times from their March low

Issued under rights programme, they are now at a 14 per cent premium to ordinary shares

Betting on Tata Steel partly paid shares has turned out to be one of the most rewarding trade this year. From their March lows of Rs 29, the shares — issued in 2018 as part of its Rs 12,800-crore rights issue programme — have jumped six times.

On Tuesday, they ended at an all-time high of Rs 181 apiece, with a gain of nearly 4 per cent. Tata Steel fully paid shares, on the other hand, have risen 2.5 times from their March low of Rs 254.

The spread between partly and fully paid shares is now at a premium of nearly