Tata Steel acquires shares worth $300 million in NINL, increasing its stake to 5.23%.

Tata Steel disclosed that it had purchased Rs 300 crore worth of shares in Neelachal Ispat Nigam Ltd., a firm that is an indirect subsidiary of the company.

Tata Steel’s stake in Neelachal Ispat Nigam Ltd increased from 1.88 percent to 5.23 percent as a result of the transaction.

The price of the company’s shares on the BSE decreased by 1.81 percent to 111.15.