Tata Steel Ltd.

Tata Steel today is planning to merge Tinplate Company of India and Tata Sponge Iron with itself. Tata steels rolling and coating is done there in Tinplate Company. It is currently holds 59.4% in Tinplate and just under 40% in Tata Sponge. In the last month it has announced open offers for both the companies. The open offer is for 14% in Tinplate and 11.4% for Tata Sponge.

The company has reported sales of 1.59 million tonnes in the first quarter of FY13, which remained unchanged ass compared to the corresponding quarter previous year, as power cuts impacted downstream production. While, sales remained marginally lower on Q-o-Q basis, when it touched 1.79 million tonnes in Q4 FY12, on account of power outages which impacted downstream production.