Tata Steel witnessed a rise in share price on Thursday after the company announced that its subsidiary Tata Steel UK offered British unions a deal guaranteeing jobs and investment on Wednesday in return for pension cuts, moving the company closer to merging its European assets with Germany's Thyssenkrupp.

Britain's largest steelmaker offered to guarantee production at UK's largest steel plant in Port Talbot, Wales, for five years, and to invest across its British business, subject to the business achieving financial targets.

Shares of Tata Steel are trading at Rs 425.00, up Rs 12.5, or 3.03% at the Bombay Stock Exchange (BSE) on Thursday at 10:24 a.m.

The scrip has touched an intra-day high of Rs 426.50 and low of Rs 416.10. The total volume of shares traded at the BSE is 286,694.

Total volume of shares traded on the bourses today was lower by 56.05% to 2,837,229 compared with 22-day average volume of 6,456,309.