TATA STEEL SHARES FALL DESPITE RELIEF IN MINING DEMAND CASE

Tata Steel traded lower in morning deals on Tuesday despite the Revisional Authority of the Ministry of Coal admitting the company’s application challenging a ₹1,755 crore mining demand. The authority has also directed the respondents not to take any coercive action against the company while the matter is pending. According to an exchange filing, Tata Steel received a demand notice dated March 30, 2026, from the District Mining Office, Ramgarh, Jharkhand, seeking a total payment of ₹1,755.10 crore. The demand pertains to the alleged excess extraction of around 1,62,40,399 metric tonnes of mineral coal from Tata Steel’s West Bokaro Colliery beyond the permitted limits during the financial years 2000-01 to 2006-07. Tata Steel filed a Revision Application before the Revisional Authority, Ministry of Coal, on April 24, challenging the demand notice. The authority has now admitted the application for consideration and directed the respondents to refrain from taking any coercive steps against the company in connection with the demand notices or related communications until the revision proceedings are concluded. Separately, Tata Steel reported an 11.58 percent year-on-year increase in consolidated net profit to ₹2,318.35 crore for the quarter ended June 30. Strong steel prices helped cushion the impact of a challenging operating environment and elevated energy costs. The company’s revenue from operations increased 14.32 percent year-on-year.