 "Tata Metaliks zooms 100% in six trading days")
Tata Metaliks is locked in upper circuit for the sixth trading sessions, up 5% at Rs 235, also its fresh lifetime high on the BSE.
The stock rallied 101% from Rs 117 on May 16, after Tata Metaliks announced the withdrawal of the scheme of amalgamation of the company and its subsidiary Tata Metaliks DI Pipes with Tata Steel.
The scheme was earlier recommended by the board of directors in April 2013. In terms of the scheme, the swap ratio for public shareholders was 4 shares of Tata Steel for every 29 held in Tata Metaliks.
Tata Metaliks said that the company is filing for fresh scheme of amalgamation of Tata Metaliks DI Pipes with the company.
As of March 31, 2016, Tata Steel, the promoter, held 50.09% stake in Tata Metaliks. The Oriental Insurance Company, General Insurance Corporation of India and Anil Bansilal Lodha hold 1% stake each in Tata Group Company, the shareholding pattern data shows.
About 469,793 equity shares representing 1.9% of total equity of Tata Metaliks changed hands on the NSE in morning trade. On BSE, around 187,772 shares or 0.74% stake changed hands, the data shows.
The name of the buyers and sellers have not immediately ascertained.
Till 1.4 million shares changed hands on the counter and there were pending buy orders for 417,491 shares on the NSE and BSE.
The stock rallied 101% from Rs 117 on May 16, after Tata Metaliks announced the withdrawal of the scheme of amalgamation of the company and its subsidiary Tata Metaliks DI Pipes with Tata Steel.
The scheme was earlier recommended by the board of directors in April 2013. In terms of the scheme, the swap ratio for public shareholders was 4 shares of Tata Steel for every 29 held in Tata Metaliks.
Tata Metaliks said that the company is filing for fresh scheme of amalgamation of Tata Metaliks DI Pipes with the company.
As of March 31, 2016, Tata Steel, the promoter, held 50.09% stake in Tata Metaliks. The Oriental Insurance Company, General Insurance Corporation of India and Anil Bansilal Lodha hold 1% stake each in Tata Group Company, the shareholding pattern data shows.
About 469,793 equity shares representing 1.9% of total equity of Tata Metaliks changed hands on the NSE in morning trade. On BSE, around 187,772 shares or 0.74% stake changed hands, the data shows.
The name of the buyers and sellers have not immediately ascertained.
Till 1.4 million shares changed hands on the counter and there were pending buy orders for 417,491 shares on the NSE and BSE.
