Tata Steel CFO Kaushik Chatterjee Speaks On The Merger Of Tata Steel With 7 Tata Companies

The latest news of Tata Steel merging with 7 subsidiary Tata companies has strengthened the Tata steel stock in the recent trading sessions. The stocks from the metal sector have taken a sharp fall today; however, the price of tata steel remains positive, showing traders' interest in the merger news.

As per the announcement of Tata Steel to the Bombay Stock Exchange, the board members have approved the merger of 7 subsidiary companies of Tata Steel which include, The Tinplate Company of India Limited, Tata Metaliks Limited, Tata Steel Long Products Limited, TRF Limited, S & T Mining Company Limited, Tata Steel Mining Limited, and The Indian Steel & Wire Products Limited.

On the latest interaction with CNBC TV 18, the ED and CFO of Tata Steel briefly explained the rationale behind the merger of 7 subsidiary companies into its parent company. Kaushik Chatterjee said, "The merger of the companies will be strategically good for the company."

Further on, in the matter of debt and costs applied, he mentioned, "The debt will not be affected by this merger, but the costs such as administrative costs, marketing and sales cost, will have a positive impact from this merger."