India's TRF, Tata Steel up on merger termination update

TRF

07/02/2024 05:13

** Shares of project management and tech services provider
TRF  TTRO.NS  jump 20% to its highest since Sept. 2022, when a
merger with Tata Steel  TISC.NS  was first announced
    ** Merger between the two stands terminated, both firms said
    ** Tata Steel up 1.5%, its highest since Sept. 2021 
    ** TRF navigated challenging operating environment, saw a
turnaround in performance with significant support by Tata
Steel, says the steelmaker
    ** TRF trading volume at 3.3 times the 30-day avg
    ** TRF gained ~48% in 2023, outpacing a ~24% gain in TISC



 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))