05 Sep 2024

Linde India Rises After Acquiring Tata Steel's Industrial Gas Supply Assets

Linde India shares surged to Rs. 7504.25, marking a rise of 301.65 points or 4.19% from the previous close of Rs. 7202.60 on the BSE.

The stock opened at Rs. 7399.00 and fluctuated between a high of Rs. 7641.60 and a low of Rs. 7374.25. A total of 9864 shares have been traded so far.

This 'A' category stock, with a face value of Rs. 10, recorded its 52-week high of Rs. 9909.00 on May 22, 2024, and a 52-week low of Rs. 5320.00 on January 18, 2024. Over the past week, the stock's high and low stood at Rs. 7641.60 and Rs. 7111.65, respectively. The company's market capitalization currently sits at Rs. 64,331.17 crore.

Promoter holdings in the company remain strong at 75.00%, with institutions holding 9.86% and non-institutions 15.14%.

Linde India has recently signed a Plant Sale Agreement with Tata Steel to acquire their industrial gas supply assets, consisting of two 1800 tpd Air Separation Units (ASUs) at Tata's Kalinganagar Phase 2 expansion project.

Earlier, in February 2023, Linde India was selected as the winning bidder by Tata Steel to take over these assets. This acquisition is expected to enhance Linde's relationship with Tata Steel and solidify its leadership in the industrial gases sector in East India.

Linde India is a key player in the global industrial gases and engineering market.