Ratan Tata, one of India’s most respected industrialists, once led the Tata Group, which continues to expand its global presence. In a recent move, Tata Steel, a major company within the group, acquired 116 crore equity shares in its Singapore-based arm, T Steel Holdings , for a whopping Rs 1,528 crore (about USD 182 million).
This acquisition strengthens Tata Steel’s position, keeping T Steel Holdings as a wholly-owned subsidiary. Tata Steel, headquartered in Mumbai with its main operations in Jamshedpur, Jharkhand, is one of the world’s largest steel producers, boasting a market cap of Rs 1,82,000 crore.
The company’s shares recently closed at Rs 146.50 on the NSE, and its financial performance has been solid, with consolidated revenues of Rs 58,687 crore for the January-March 2024 quarter and a total of Rs 2,29,171 crore for the entire fiscal year 2024.
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