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Tata Steel gains on inking agreement for equity partnership for Canadian Iron Ore Mines

Tata Steel Ltd. | Steel & Iron Products | Metals & Mining | BSE: 500470 | NSE: TATASTEEL

28 Oct 2016 Evaluate

Tata Steel is currently trading at Rs. 398.25, up by 1.15 points or 0.29% from its previous closing of Rs. 397.10 on the BSE.

The scrip opened at Rs. 399.00 and has touched a high and low of Rs. 400.20 and Rs. 397.60 respectively. So far 25,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 431.65 on 20-Oct-2016 and a 52 week low of Rs. 211.30 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 431.00 and Rs. 381.00 respectively. The current market cap of the company is Rs. 38,688.37 crore.

The promoters holding in the company stood at 31.35%, while Institutions and Non-Institutions held 42.13% and 26.51% respectively.

Tata Steel has inked an agreement for equity partnership for its Canadian Iron Ore Mines. Tata Steel Minerals Canada together with its parent companies has signed definitive agreements for concluding investments of C$ 125 million as equity and C$ 50 million as debt with Government of Quebec’s investment entities, Resources Quebec (RQ) and Investment Quebec (IQ) respectively, totaling C$ 175 million.

The investment will result in an 18% equity stake for Resources Quebec in Tata Steel Minerals Canada in line with the carrying value of the investment in Canadian iron ore assets for Tata Steel. Consequently, the shareholdings of Tata Steel and New Millennium Iron will be adjusted to 77.68% and 4.32% respectively.

Tata Steel has invested in Eastern Canada to set up mining operations across several deposits straddled across the Quebec-Newfoundland and Labrador- peninsula and multiple processing facilities including a state-of-the-art beneficiation plant. The project has consequently enabled the development of infrastructure facilities including rail, roads, telecommunications and Port that has had significant positive impact in the socio economic landscape in Quebec and Newfoundland and Labrador.

Tata Steel Share Price

212.05 1.35 (0.64%)

17-Apr-2026 16:59 View Price Chart

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Tata Steel gains on inking agreement for equity partnership for Canadian Iron Ore Mines

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