The National Company Law Tribunal’s Mumbai bench approved the amalgamation scheme between Tata Steel and its wholly-owned subsidiary Angul Energy. Tata Steel disclosed this approval in an exchange filing on July 3, following previous disclosures on February 6, 2023, and January 5, February 9, and April 19, 2024.
The merger had already received approval from the NCLT’s Delhi Bench, which oversees Angul Energy, on April 18, 2024. Tata Steel provided a copy of the NCLT Mumbai Bench’s order on its website along with the regulatory filing.
Tata Steel announced the cancellation of a planned strike at its Port Talbot plant in Wales, organized by Unite the Union, through a separate filing on July 1.
The strike, originally scheduled for July 8, was called off following assurances of ongoing investment discussions regarding the plant’s future.
Tata Steel is set to announce its financial results for the first quarter of fiscal year 2024-25 shortly. In the previous January-March 2024 quarter, Tata Steel reported a nearly 65% decline in consolidated net profit to ₹555 Crore, down from ₹1,566 Crore in the same period last year.
The company’s revenue from operations also decreased by almost 7% to ₹58,687 Crore in the March 2024 quarter, compared to ₹62,962 Crore in the corresponding period of the previous fiscal year.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.