Tata Steel acquired 90,06,801 shares of face value Rs 10 each comprising 50.01% equity stake in TPPL from TEMPL. The acquisition is aimed at securing a long-term supply of iron ore pellets for the company’s operations in India.

Post-transaction, Tata Steel will hold 50.01% in TPPL, while the remaining 49.99% stake will continue to be held by Lloyds Metals & Energy (LMEL). The deal is expected to be completed within a 3 – 4 months, subject to regulatory approvals.

Meanwhile, the company’s board accorded in-principle approval for the 4.8 MTPA capacity expansion at Neelachal Ispat Nigam. marking Phase 1 of a broader expansion plan The project will help the company scale up its long products portfolio, particularly in the high-growth retail and construction segments.

The board also approved funding to design and engineering of a 2.5 MTPA Thin Slab Cluster and Rolling facility at Tata Steel Meramandali. This expansion will enhance the company’s finished steel capacity, especially for thinner gauge products.

Further, the company’s board approved the plan to set up a 0.7 MTPA Hot Rolled Pickling and Galvanizing Line (HRPGL) at its Tarapur Cold Rolling Complex in Maharashtra. This will be ‘first of its kind’ facility in India, it is expected to strengthen the company’s offerings for automotive customers and support import substitution.

Furthermore, the company said that it has signed MoU with Lloyd Metals & Energy to partner in the areas of iron ore mining, logistics including slurry pipeline, pellet and steel making. The companies plan to jointly explore opportunities in Maharashtra’s Gadchiroli district, including operating mining concessions, developing a greenfield 6 MTPA steel plant in two phases, and driving cooperation in LMEL’s ongoing integrated steel projects. All proposed initiatives are subject to further detailed evaluation, due diligence, and receipt of requisite internal and regulatory approvals.

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.

The company reported 4.19 times increase in consolidated net profit to Rs 3,183 crore in Q2 FY26 from Rs 759 crore recorded in Q2 FY25. Revenue rose by 9% year-over-year (YoY) to Rs 58,689 crore during the quarter, primarily driven by higher deliveries in India and Netherlands despite drop in realisations.