HomeCURRENT AFFAIRSBUSINESSTata Steel: Shares of Tata Steel rose 5% to Rs 101 ahead...

Tata Steel: Shares of Tata Steel rose 5% to Rs 101 ahead of the stock split.

Tata Steel: Shares of Tata Steel were up 5% at Rs. 100.90 on the BSE. Koushik Chatterjee, executive director and chief financial officer of Tata Steel, stated earlier this week that the business had secured “required clearances” for its stock-split proposal. The board of Tata Steel has previously stated that it would explore a proposal to divide the company’s equity shares, each of which has a face value of Rs.

I’m pleased to report that the 1:10 stock split has gained the required approvals, and the company has chosen July 29, 2022 as the record date to put the split into effect, according to a statement from Chatterjee. One of the top four steel companies in the nation, Tata Steel makes up about 18% of all domestic steel production. It said on Wednesday that it has signed an agreement with a startup from Bengaluru for drone-based mining solutions for efficient mine management.

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This collaboration’s main objective is to collaboratively develop and provide integrated, sustainable solutions that are focused on the effectiveness, security, and productivity of open cast mining operations. It has been announced in a statement that it has inked a Memorandum of Understanding (MoU) with Aarav Unmanned Systems (AUS), a Bangaluru-based business that offers end-to-end drone solutions for efficient mine management.

Additionally, Tata and AUS will collaborate to offer unique drone-based solutions, such as mine analytics and geo-technical mapping, to Tata Steel group firms operating in mining regions around India, the company stated.

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