iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Tata Steel Long Products hikes stake in NINL

25 Nov 2022 , 02:40 PM

NINL is a subsidiary of TSLP. Post acquisition, TSLPs stake in NINL increased to 95.96% from 95.81% earlier. The proposed funding will be utilized towards the initial working capital and capex requirement of the NINL including start-up of iron and steel plant at Kalinganagar, repayment/prepayment of liabilities and for other general corporate purposes. NINL has a 1.1 mtpa integrated iron and steel plant at Kalinganagar Odisha, along with iron ore mines with a reserve of ~90 MT. Its turnover for the financial year 2021&8208;22 was Rs 257.58 crore. The investment will be utilized towards the initial working capital and capex requirement of the NINL including start-up of iron and steel plant at Kalinganagar, repayment/prepayment of liabilities and for other general corporate purposes. TSLP has presence across the entire value chain of steel manufacturing from mining and processing iron ore to producing and distributing steel based long products. The company also has sponge iron manufacturing facility and captive power plants generating power from waste heat and thermal coal. On standalone basis, TSLP reported net loss of Rs 333.36 crore in Q2 FY23 as against net profit of Rs 145.50 crore in Q2 FY22. Net sales rose 16.9% to Rs 1,913 .94 crore in Q2 FY23 compared with Rs 1,637.37 crore in Q2 FY22. The TSPL scrip rose 0.59% to Rs 640.50 on the BSE. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.