Tata Steel Ltd has provided updates on "Feedback from European Commission on the proposed steel joint venture between thyssenkrupp and Tata Steel in Europe".
The European Commission on June 11, 2019, formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel Limited and thyssenkrupp AG. Both companies, in statements on May 10, 2019, anticipated that the European Commission would not clear the proposed joint venture despite both parties offering a comprehensive package of remedies addressing the concerns of the Commission. Tata Steel noted with deep disappointment the conclusions of the Commission. The Company remains committed to its long-term strategy of focusing on growth in India, continue deleveraging its Balance Sheet and working towards creating a sustainable portfolio in Europe.
Shares of TATA STEEL LTD. was last trading in BSE at Rs.492.8 as compared to the previous close of Rs. 486.7. The total number of shares traded during the day was 270881 in over 3844 trades.
The stock hit an intraday high of Rs. 493.85 and intraday low of 487.3. The net turnover during the day was Rs. 132916801.