News for TRF Limited (TRF.NS)

Nelco hit a multi-year high of Rs 1,271.95, rallied 13 per cent on the BSE in Tuesday's intra-day trade, and zoomed 46 per cent in eight trading days

Nifty settled at 22,218, while the Sensex ended 0.45% higher at 73,104 on Tuesday. Nifty is approaching the hurdle zone around 22,300 after two days of rebound. MACD showed bullish trade on the counters of Honeywell Automation, HG Infra Engineering, BEML, and Symphony.

Net Sales at Rs 28.77 crore in December 2023 down 33.42% from Rs. 43.21 crore in December 2022. Story continues below Advertisement Remove Ad Quarterly Net Pr...

Net Sales at Rs 28.77 crore in December 2023 down 33.42% from Rs. 43.21 crore in December 2022. Story continues below Advertisement Remove Ad Quarterly Net Pr...

Hindalco, Power Grid, Grasim Inds., Adani Ent. and Wipro were among the top losers on NSE.

The Nifty Realty index was trading 1.96 per cent down at 858.8.

The Nifty Pharma index was trading 0.26 per cent up at 18664.75.

Keynote Financial, Orient Press, Grasim Inds.(PP), Tree House Edu and TRF Ltd, hit their fresh 52-week highs at 10:45AM.

The scheme of amalgamation between TRF and Tata Steel, announced in 2022, was seen unfavourable for shareholders of TRF. "The swap ratio announced at the time of the merger was not very beneficial for the minority shareholders and the shares had seen a correction then...so this is a reversal of that," said Amit Kumar Gupta, founder of Fintrekk Capital.

Orchid Pharma, Schneider, Tree House Edu, TRF Ltd and Apollo Pipes, hit their fresh 52-week highs at 11:05AM.

ONGC, BPCL, Coal India Ltd, Hindalco and M&M were among the top losers on NSE.

The Nifty Realty index was trading 1.26 per cent down at 865.05.

The Nifty Pharma index closed 0.24 per cent down at 18520.3.

ITC, Britannia, Kotak Bank, ICICI Bank and Axis Bank were among the top losers on NSE in today's trade.

The Nifty Auto index was trading 0.43 per cent down at 19817.9.

Tata Consumer, Nestle India, Britannia, ITC and Maruti Suzuki were among the top losers on NSE.

Bengaluru Sensex and Nifty 50 drop, while Nifty IT falls; SBI, HDFC Life, and Britannia are top gainers.

TRF shareholders were to get for 17 shares of Tata Steel for 10 of the company, which was a 53 percent discount at the time. The discount had narrowed to 10 percent as per the closing price of February 6

In 2022, the Tata Steel board had approved a proposal to merge seven of its subsidiaries into itself.