Tata Steel shares rise, but subsidiaries decline due to a merger proposal.

Tata Steels share price increased by up to 9% on Friday . Four of the seven Tata Group firms that will be included in Tata Steel are listed .

Mumbai (Maharashtra) India: On Friday, Tata Steel's share price increased by up to 9%, while subsidiaries fell by up to 9% after the company's board approved the merging of seven group companies.Tata Steel's stock was up 1.30 percent on the BSE, at Rs 105.In the intra-day, the scrip soared to a high of Rs 107.90.Four of the seven Tata Group firms that will be included in Tata Steel are listed.

In the intra-day, the scrip hit a low of Rs 679.65.TRF Limited slid 5 per cent to Rs 355.65.This is the company's lowest price band.Tata Steel Long Products Limited (TSLP-Transferor Company) was amalgamated with Tata Steel Limited (Transferee Company) at the Board of Directors' meeting on September 22, 2022.

Tata Metaliks Limited (TML-Transferor Company) has integrated and contracted with Tata Steel Limited (Transferee Company), its parent company.TRF Limited (TRF-Transferor Company) has joined and contracted Tata Steel Limited (Transferee Company).The Indian Steel & Wire Products Limited (ISWP-Transferor Company) has been included in and with Tata Steel Limited (Transferor Company), its parent company.Tata Steel also supplied S & T Mining Company Limited (TSML-Transferor Company) into and with its parent company, Tata Steel Limited (Transferee Company), and S & T Mining Company Limited (S & T Mining-Transferor Company) into and with its parent company, Tata Steel Limited (Transferee Company), and (e) such other approvals, permissions, and sanctions as may be required pursuant to applicable laws, Tata Steel said in