Tata Steel’s marathon EGM continued for six hours last evening. About 90.8 per cent shareholders voted for the removal of Nusli Wadia as director, it was predicted. The total number of shareholders who voted in favor of Wadia constituted 9.20 per cent. Wadia had asked the shareholders to vote against the proposal and continued his fiery attack on Tata Sons. He even opposed the group's continued steel investments in Europe.
Wadia had written that the ability of a promoter to remove an independent director through the brute force of its holding in an ordinary resolution on which it can vote is a serious and major dichotomy and the contradiction needs to be and must be taken care of as soon as possible. On the other hand, Andrew Robb, Chairman, Tata Steel Europe informed that Tata Steel has a brilliant future ahead especially in India and what the boardroom battle underway is unfortunate. Today, sharp at 3.00 p.m, Tata Motors' EGM will be kicking off.
As the markets opened on 22nd, Tata Steel share price dipped 0.19 per cent and is trading at Rs. 403.75.
Tata Steel Ltd was incorporated in the year 1907. It is a Large Cap company which has a market cap of Rs 39285.66 cr, as on 22nd Dec 2016 and operates in the Iron and Steel sector.
For the quarter ended 30th Sept 2016, the company has reported consolidated sales of Rs 26291.86 Cr., up from last quarter Sales of Rs 25155.98 Cr. and slightly up from last year same quarter Sales of Rs 26268.38 Cr. Company has reported a net loss of Rs -40.32 Cr. in latest quarter.
In order to know about the support and resistance levels of the scrip and also its fundamentals, please visit Tata Steel share price history.
No comments:
Post a Comment