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Tata Sponge Iron has identified an entry into steel manufacturing in long products to enhance its product portfolio. The company has been evaluating various strategic options beyond the manufacturing of sponge iron.

The company has a debt free capital structure and free cash reserves of around Rs 670 crore, providing it with a strong financial position to enter this business. Besides, the inherent synergistic and associated nature of the business, steel long products continue to see growing and robust demand in the Indian market with potential for value accretion.

Tata Steel as the promoter shareholder of Tata Sponge, has also agreed to support Tata Sponge's growth strategy in building a globally competitive long products business, while identifying it as the appropriate entity to acquire the steel business of Usha Martin (UML).

Tata Sponge Iron is engaged in business of manufacturing high-grade sponge iron that is consistent in quality..The company also in the business segment of Power, Sponge Iron. 

Tata SteelLong-Amalg Share Price

829.45 0.00 (0.00%)
16-Nov-2023 17:59 View Price Chart
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