25 Aug , 2026 By : Debdeep Gupta
Shares of Tata Steel were trading lower in morning trade on Tuesday despite the Revisional Authority, Ministry of Coal, admitting the company's application challenging a Rs 1,755 crore mining demand and directing the respondents not to take any coercive steps against the company during the pendency of the case.
The stock was trading at Rs 184.15 on the NSE, down Rs 2.15 or 1.15 percent as of 10:23 am.
As per an exchange filing, Tata Steel had received a demand notice dated March 30, 2026, from the District Mining Office, Ramgarh, Jharkhand, seeking an aggregate amount of Rs 1,755.10 crore.
The demand relates to alleged excess extraction of approximately 1,62,40,399 MT of mineral coal from the company's West Bokaro Colliery beyond permissible limits during FY2000-01 to FY2006-07.
The company had filed a Revision Application before the Revisional Authority, Ministry of Coal, on April 24, challenging the demand notice.
The authority heard the application on August 20, 2026, and Tata Steel received a copy of the order on August 24.
It has admitted the revision application for consideration and directed the respondents not to take any coercive steps against Tata Steel pursuant to the demand notices/letters during the pendency of the revision application.
Tata Steel had last month reported an 11.58 percent year-on-year increase in consolidated net profit to Rs 2,318.35 crore for the quarter ended June 30, compared with Rs 2,077.68 crore in the year-ago period. Strong steel prices helped offset a challenging operating environment amid high energy costs.
Net profit stood at Rs 2,925.74 crore in the March quarter of FY26.
The company's total revenue from operations rose 14.32 percent year-on-year to Rs 60,794.29 crore in the June quarter, from Rs 53,178.12 crore in the same period a year earlier. Revenue stood at Rs 63,270.13 crore in the fourth quarter of FY26.
Tata Steel shares closed marginally lower at Rs 186.95 on the BSE, down 0.19 percent.
0 Comment