Tata Steel erases post merger gains; slips 7% in two days to hit 2-mth low

Tata Steel is now trading at its lowest level since the stock turned ex-date for a 1:10 stock split on July 28, 2022

Shares of Tata Steel hit a two-month low of Rs 96.55 on slipping 3 per cent on the BSE in Tuesday’s trade. The stock has fallen 7 per cent in the past two trading days.

The scrip has erased all gains that were made after the board of directors of Tata group had approved amalgamation of all metal companies into Tata Steel last week. 

The board, in a meeting held on Friday, September 23, had approved the merger of its seven metal subsidiary companies with its parent metal company Tata Steel. The seven firms that will be merged with