Shares of
Tata Steel rose over 3 per cent in early trade on the bourses on Friday after the company exited from Australian coal miner Riversdale by
selling its entire 26.27 per cent stake to Rio Tinto for AUD 1.06 billion ($1.11 billion).
The announcement was made after market hours on Thursday.
Shares of the company jumped 3.31 per cent to touch an early high of Rs 571.50 on the Bombay Stock Exchange (BSE), while on the National Stock Exchange (NSE) the stock gained 3.2 per cent to hit an early peak of Rs 571.
On the volume front, over 22 lakh shares of the company changed hands on the bourses within the first few minutes of trade.
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