Tata Steel shares rose 5.28 per cent to close at Rs 411.75 on its plans to raise funds from global investors. Tata Steel may raise $500 million through global depository receipts (GDR). Each GDR is priced at $7.644 and its rupee equivalent price works out to about Rs 372.3 per share, a discount of 9.6 per cent over the closing market price on Tuesday.
The stock opened at Rs 387.95 and made an intraday low of Rs 377 before touching a high of Rs 414.7. Total traded volume stood at 94.75 lakh shares.
