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Tisco Q2 net zooms 642% to Rs 203 cr

November 08, 2002

Tata Iron & Steel Company Ltd has posted a net profit crore for the quarter ended September 30, 2002 compared the quarter ended September 30, 2001. Total income (net of excise) of the company has increased from the September 2001 quarter in the quarter ended September 30, 2002.

The board of directors of Tisco (Q, N,C,F)* also approved the following:

The scheme of amalgamation of Tata SSL (Q, N,C,F)* (TSSL) with the company, the appointed date being April 1, 2002.

Based on the independent valuation by SB Billimoria & Co, the board approved a swap ratio of one equity share of Tisco for every equity shares held in TSSL.

Setting up a ferro chrome project at Richards Bay South Africa.

At the BSE today, the steel major's shares closed at Rs 116.65, down Rs 1.60 or 1.35 per cent against its previous close of Rs 118.25.

* Q - Quote , N - News , C - Chart , F - Financials