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Shares of Tata Steel advanced over 2 per cent on the Bombay stock Exchange after the company said it plans to sell 8.36 crore equity shares of face value of Rs 2 each of Tata Motors to Tata Sons. Boosted by the development, shares of the company gained as much as 2.07 per cent to hit an intra-day high of Rs 512.50 apiece on the Bombay Stock Exchange.
The scrip was currently trading at Rs 510.65 against previous close price of Rs 502.10. In a similar fashion, stocks of company were trading 1.77 per cent higher at Rs 510.85 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,207.44, up 151.04 points or 0.49 per cent, at 11:55 hours.