Tata Group’s Tata Steel has completed the acquisition of SAIL’s (Steel Authority of India) entire stake in S&T Mining. S&T Mining will now become a wholly owned subsidiary of the Tata Group. Let us tell you that SAIL had 50 per cent stake in S&T Mining. Now it will be of Tata Steel.
S&T Mining was incorporated in 2008 for the purpose of obtaining coal blocks, exploring, obtaining all government-regulatory approvals, obtaining licenses and mining coal. However, S&T Mining has been non-operational since FY19.
Talking about the share of Tata Steel, its price is at Rs 1320.55. Its price fell 2.76 percent in Tuesday’s trade. At the same time, the market capital is Rs 1 lakh 61 crore.