Tata Metaliks Ltd board approves preferential issue to Tata Steel Ltd

The Board of Tata Metaliks Ltd at its meeting held on February 27, 2019 have approved convening of an Extraordinary General Meeting ("EGM") of the shareholders of the Company on Monday, March 25, 2019, at 11.30 a.m. (IST) at "KALA Mandir", 48, Shakespeare Sarani, Kolkata - 700 017, to consider and approve issuance of Equity Shares and Convertible Warrants to the Promoter i.e. Tata Steel Limited.

Earlier, the board approved issue of 29,00,000 equity shares and up to 36,00,000 convertible warrants to Tata Steel Ltd through preferential allotment.

Shares of TATA METALIKS LTD. was last trading in BSE at Rs.584.05 as compared to the previous close of Rs. 591.15. The total number of shares traded during the day was 5511 in over 378 trades.

The stock hit an intraday high of Rs. 605 and intraday low of 584. The net turnover during the day was Rs. 3293174.

Source : Equity Bulls

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