Tayo Rolls allots preference shares to Tata Steel

The committee of board of directors of Tayo Rolls Ltd on Monday allotted six lakh 8.50 per cent non-cumulative redeemable preference shares of ₹100 each to Tata Steel on preferential basis. Tata Steel owns 54.45 per cent stake in Tayo Rolls. Shares of Tayo Rolls surged 13 per cent to ₹76.20 on the BSE.