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Big decision of Ratan Tata's favorite company, this work will not work in Britain now

Tata Steel is currently in advanced stages of consultation with trade unions in the UK on its proposal for a planned restructuring involving the closure of iron and steelmaking assets at Port Talbot and conversion to a sustainable low carbon steel production facility.
2 Month ago

Tata Steel, one of Ratan Tata's favorite companies, has taken a big decision. The company said on Monday that it has decided to shut down coke oven operations at its Port Talbot plant in Britain. Tata Steel said in a regulatory filing that it will increase coke imports to cushion the impact of coke oven shutdowns. Tata Steel, UK has decided to shut down coke oven operations at its Port Talbot plant in Wales following deterioration in operational sustainability, according to a regulatory filing.

Work in advance phase

Tata Steel had earlier said that many of its heavy assets at Port Talbot were at their ultimate capacity. Tata Steel is currently in advanced stages of consultation with trade unions in the UK for a planned restructuring involving the closure of iron and steel production assets at Port Talbot and conversion to a sustainable low carbon steel production facility. The transformation plan includes a $1.25 billion investment in electric arc furnace technology and asset upgrades at Port Talbot.

Shares of Tata Steel rise tremendously

The special thing is that a day ago Tata Steel shares saw a tremendous surge. Shares of the company closed with a gain of 5.69 percent. The share of the company is Rs. appeared at 149.60. However, during the trading session, the company's shares also traded at Rs. 150.25 was reached. While yesterday morning the company's share opened at Rs.143.85 with a marginal increase of Rs.2. The special thing is that the company's stock has seen an increase of about 43 percent in the last one year. This growth has been seen around 7 percent in the current year. Shares of the company have seen an increase of about 5 percent in the last one month.

Tremendous increase in market cap

On the other hand, the market cap of the company has increased tremendously. According to BSE data, the market cap of Tata Steel has increased by 10 thousand crore rupees on Monday. Last Friday, the company's market cap was Rs. 1,76,703.12 crores. Which by the close of market on Monday Rs. 1,86,752.30 crores. Due to which the market cap of the company is Rs. 10,049.18 crore has increased.

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