Linde India shares rise over 6% on acquiring Tata Steel's gas supply assets
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Linde India shares jumped 6.1% to Rs 7641.6 on Thursday after the company announced that it had entered into a plant sale agreement with Tata Steel to acquire their industrial gas supply assets. The deal includes the acquisition of two 1800 TPD Air Separation Units (ASUs) at Tata Steel’s Kalinganagar Phase 2 expansion project, as per Linde India’s exchange filing. This follows Tata Steel naming Linde India as the successful bidder to own and operate gas supply infrastructure at its Kalinganagar plant for 20 years. As part of the agreement, Linde India will take over the two ASUs currently under construction and finance the purchase using its own funds. At 11:27 a.m., the stock was trading 3.7% higher at Rs 7,471 on BSE. Year-to-date (YTD), the stock has surged 32%, and it has rallied nearly 120% over the past two years.Brokerage firm Haitong maintained its "Outperform" rating on Linde India with a target price of Rs 8,546, sugge...