It would pay NZ$27.5 million for Tata Steel International Australasia Ltd, which makes stainless steel, engineering steels, and composite floor decks for the New Zealand and Pacific Island markets.
New Zealand's Steel and Tube ltd is to acquire the local business of Tata Steel , the company said on Tuesday.
It said it would pay NZ$27.5 million for Tata Steel International Australasia Ltd, which makes stainless steel, engineering steels, and composite floor decks for the New Zealand and Pacific Island markets.
Steel and Tube said the acquisition was a strong strategic fit for the company.
Also Read: Demand to grow by at least 6% next fiscal, says Tata Steel MD
Tata Steel stock price
On April 07, 2014, Tata Steel closed at Rs 405.95, up Rs 4.05, or 1.01 percent. The 52-week high of the share was Rs 435.40 and the 52-week low was Rs 195.40.
The company's trailing 12-month (TTM) EPS was at Rs 59.13 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 6.87. The latest book value of the company is Rs 568.46 per share. At current value, the price-to-book value of the company is 0.71.
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