Tata Steel completes proposed amalgamation of five of nine subsidiaries | Mint (2024)

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Tata Steel completes proposed amalgamation of five of nine subsidiaries | Mint? ›

The company on Wednesday said it amalgamated five of these businesses after duly completing the regulatory processes. These include Tata Steel Mining Limited, Tata Steel Long Products, S&T Mining, The Tinplate Company of India Limited and Tata Metaliks.

The seven subsidiaries to be merged with the company are Angul Energy, Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata Steel Mining and S&T Mining Company. Tata Steel MD and CEO T.V.

The amalgamation is value-accretive and will also drive synergies through raw material security, centralised procurement, optimisation of inventories, reduced logistics costs, and better facility utilisation," Tata Steel said. Bhubaneswar Power is a wholly-owned subsidiary of Tata Steel.

New Delhi: The NCLT has approved Tata Steel's proposal to withdraw merger with TRF Ltd, according to an exchange filing. On February 7, Tata Steel had said that its board has decided not to pursue the amalgamation of TRF Ltd, as the associate company is witnessing a turnaround in its business performance.

Recent acquisitions by Tata Steel

Tata Steel's most recent acquisition - Rohit Ferro-Tech is a Manufactures ferro alloys and stainless steel., founded in 2000 and located in Kolkata. Tata Steel acquired a 100% stake in it in April 2022. Get detailed list of all acquisitions by Tata Steel delivered to your inbox!

Project Details

The state-of-the-art, Kalinganagar Project is being established in two modules of three million tonnes each. The plant, which boasts of the Blast Furnace of 4330 cum capacity, will roll out high-end flat products.

Promoted by Tata Steel and ACC Limited, TRF has over the years executed various electromechanical jobs for bulk material handling equipment.

Tata Steel Ltd. has an average target of 173.83. The consensus estimate represents an upside of 13.75% from the last price of 152.82. View 21 reports from 7 analysts offering long-term price targets for Tata Steel Ltd..

Who owns Tata Steel? ›

Tata Sons, the holding company of Tata group, and the group companies own a 30% stake in Tata Steel, with Tata group Chairman Cyrus Mistry also serving as chairman of the steelmaker. Tata Steel made headlines around the world when it bought Anglo-Dutch steel company Corus in 2007, creating a new global steel giant.

In 1990, the company expanded and established a subsidiary, Tata Inc., in New York. The company changed its name from TISCO to Tata Steel Ltd. in 2005.

There are 28 analysts who have initiated coverage on Tata Steel. There are 5 analysts who have given it a strong buy rating & 8 analysts have given it a buy rating. 3 analysts have given the stock a sell rating.

The Competition Commission of India has approved the merger of Tata Motor Finance with Tata Capital. This merger, announced in June, will result in Tata Motors holding a 4.7% stake in the merged entity.

Tata Steel had acquired the UK plant as part of its acquisition of the Corus Group in April 2007 for 6.2 billion pounds and since then, the unit has hardly made any money for the company.

Tata Steel acquires Corus (now, Tata Steel Europe).

2019 -Company name has changed to Tata Steel Long Products Ltd. from Tata Sponge Iron Ltd. -Tata Sponge Iron Limited completes the acquisition of steel business undertaking of Usha Martin Limited. 2021 -Amalgamation of The Indian Steel and Wire Products Limited with Tata Steel Long Products Limited.