Tata Steel has divested its entire stake in Lanka Special Steels (LSSL) to E.B. Creasy & Company PLC (EBCC) for a total consideration of LKR 433 million amounting around Rs 20.4 crore in an all cash deal.
LSSL was a wholly owned subsidiary of Tata Steel incorporated in Sri Lanka. It is engaged in the business of manufacturing and supplying hot dip galvanized wire and nail wire with an installed capacity of 14,400 metric tonnes per annum. It had an annual turnover of LKR 1,569 million amounting to Rs 74 crore in FY 14.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
The current price of stock is 324.00 , up by 7.15 points or 2.26% from its previous closing of Rs 316.85 on the BSE
LSSL was a wholly owned subsidiary of Tata Steel incorporated in Sri Lanka. It is engaged in the business of manufacturing and supplying hot dip galvanized wire and nail wire with an installed capacity of 14,400 metric tonnes per annum. It had an annual turnover of LKR 1,569 million amounting to Rs 74 crore in FY 14.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
The current price of stock is 324.00 , up by 7.15 points or 2.26% from its previous closing of Rs 316.85 on the BSE
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