Tata Steel Ltd.

Tata Steel, the flagship company of the Tata Group, is planning to import high-end European products to India, as mentioned in some media report. Further towards this development, surveys are being carried out, while the plan is expected to be finalized in next two to three months.

Recently, the company reported that it is planning to merge its 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 as compared to the corresponding quarter previous year, as power cuts impacted downstream production. Company’s 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.