T S Alloys Limited, a wholly-owned subsidiary of Tata Steel Limited, has been issued Letter of Intent for grant of mining lease for Saruabil block for chromite ore.
The Company and its subsidiary company had participated in the e-auction process held by the Government of Odisha, for the chromite mine, currently held by M/s Misrilall Mines Private Limited. The Government of Odisha had undertaken an auction process for the grant of mining lease for the Saruabil Chromite mining block. The Government of Odisha has issued to T S Alloys Limited, a wholly-owned subsidiary of the Company, a Letter of Intent dated January 6, 2020, as the Successful Bidder for grant of mining lease for 50 years, subject to fulfilment of certain conditions.
Shares of TATA STEEL LTD. was last trading in BSE at Rs.475.65 as compared to the previous close of Rs. 473.2. The total number of shares traded during the day was 465361 in over 7220 trades.
The stock hit an intraday high of Rs. 484.6 and intraday low of 473.6. The net turnover during the day was Rs. 223143207.