Shares of Tata Steel fell nearly 2 per cent on the Bombay Stock Exchange after the company has entered into agreement with ThyssenKrupp AG to create a 50:50 joint venture.
Following the announcement, stocks of the company declined as much as 1.72 per cent and touched an intra-day low of Rs 558.05 apiece on the Bombay Stock Exchange.
In a similar trend, shares of the firm were trading 1.56 per cent lower at Rs 558.90 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 35,148.57, down 274.59 points, or 0.78 per cent at 12:20 hours.