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Sponge iron plants could shift to new technology on availability of coal
The company had posted a profit of Rs 36 crore in the corresponding quarter of previous fiscal
Deals beyond a certain threshold require approval from the Competition Commission of India
Tata Group company had announced the execution of definitive agreements for the acquisition of the steel business of UML through a slump sale on a going concern basis
Tata Sponge Iron produced a record 3,90,000 tonnes of sponge iron during 2016- 17
Sponge iron prices have appreciated by Rs 3,800 per tonne since February this year
The stock rallied 10% to Rs 717 on the NSE in intra-day trade