Mumbai/IBNS, Dec. 11 -- Tata Steel shares surged by 1.57% on Thursday after the company's board approved the acquisition of a 50.01% equity stake in Thriveni Pellets Pvt Ltd (TPPL) from Thriveni Pellets Private Limited for up to Rs.636 crore, media reports said.

Following the acquisition, the remaining 49.99% stake in TPPL will continue to be held by Lloyds Metals & Energy (LMEL).

The transaction is expected to be completed within three to four months, subject to regulatory approvals, according to Business Today.

By strengthening its upstream assets, the company aims to reduce dependency on external suppliers and enhance long-term operational efficiency.

Published by HT Digital Content Services with permission from India Blooms....