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An announcement from Tata Steel Limited ( (IN:TATASTEEL) ) is now available.
Tata Steel Limited has received a demand letter from the Office of Deputy Director of Mines, Jajpur, regarding an alleged shortfall in the dispatch of chrome ore from its Sukinda Chromite Block. This has resulted in a demand of over ₹2410 crore based on the sale value of the shortfall and appropriation of performance security. Tata Steel disputes the state’s claims and plans to challenge the demand legally, citing a lack of justification. The company has previously contested a similar demand for the previous year, which is currently under interim stay by the Orissa High Court.
More about Tata Steel Limited
Tata Steel Limited is a major player in the steel industry, known for its production and distribution of steel products. The company operates globally, focusing on delivering high-quality steel and related services to various industrial sectors.
Average Trading Volume: 1,243,658
Technical Sentiment Signal: Buy
Current Market Cap: 2091B INR
See more data about TATASTEEL stock on TipRanks’ Stock Analysis page.