SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Tata Steel closes ferroalloys plant at Bamnipal

11 Aug 2014 Evaluate

Tata Steel has closed its 50,000 tonnes per annum ferroalloys plant at Bamnipal in Keonjhar district of Odisha on account of unavailability of raw material. The raw material crisis is precipitated by closure of the company’s Sukinda chrome ore mines, where the work has been suspended since 17th May, this year, because of non-renewal of lease.

The Suspension of operation at Sukinda and Bamnipal has impacted livelihood of more than 6,000 persons with loss of revenue to the government to the tune of Rs 300 crores per annum.

Even as Tata Steel’s application for renewal of Sukinda lease, which expired in 2013, is pending before the state government, the Odisha High Court has restrained the government from taking any decision on the matter till disposal of petitions challenging the company’s need to retain the full lease area.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.

Tata Steel Share Price

187.15 2.00 (1.08%)
02-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
Tata Steel 187.15
JSW Steel 1223.65
Steel Authority 168.00
Jindal Stainless 692.50
APL Apollo Tubes 1788.70
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: