India's TRF surges most in 11-months on Tata Steel merger proposal

TRF

18/08/2023 05:53

** Shares of TRF Ltd  TTRO.NS  rise as much as 12.5% to
209.8 rupees, biggest pct gain since Sept. 14, 2022
    ** Tata Steel reported it will hold a meeting of its equity
shareholders on Sept. 18 to consider merger with the project
management and technical services provider
    ** More than 721,800 TRF shares change hands by 10:10 a.m.
IST vs 5.8x 30-day avg of 124,002 shares
    ** Stock trading above its 50-,100- and 200-day simple
moving averages, indicating bullish sentiment
    ** Stock up 8.8% so far this year up to last close


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))