Linde India inks agreement with Tata Steel, stock up 6% 

Shares of Linde India Ltd rose 6% in early deals on Thursday after the firm said it inked a plant sale agreement with Tata Steel Limited for acquiring their industrial gas supply assets - 2X1800 tpd Air Separation Units (ASUs) at their Kalinganagar Phase 2 expansion project.

Linde India shares climbed 6.09% to Rs 7641.60 today against the previous close of Rs 7202.60 on BSE. Market cap of the firm rose to Rs 63,657 crore. 

"In continuation to our letter under ref. no. Sect/11 dated 13 February 2023 and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the Company has entered into the Plant Sale Agreement with Tata Steel Limited for acquiring their industrial gas supply assets - 2X1800 tpd Air Separation Units (ASUs) at their Kalinganagar Phase 2 expansion project," said Linde India. 

Total 0.12 lakh shares of the firm changed hands amounting to a turnover of Rs 9.20 crore. Market cap of the firm rose to Rs 63,714 crore on BSE. 

In terms of technicals, the relative strength index (RSI) of Linde India stands at 33.3, signaling it's trading neither in the overbought nor in the overtrading zone. Linde India shares are trading higher than the 5 day, 10 day, 20 day, 150 day, 200 day but lower than the 30 day, 50 day and 100 day moving averages.

Linde India is primarily engaged in manufacture of industrial and medical gases and construction of cryogenic and non-cryogenic air separation plants.