Tata Steel Ltd said its subsidiary Tata Steel Global Mineral Holdings has increased its stake to 27.4% from 19.9% in Canada's iron ore explorer New Millennium Capital Corp.
After increasing its stake in New Millennium Capital, Tata Steel is planning to expedite the direct shipping ore (DSO) project.
On Tuesday, Tata Steel’s shares ended 2.2% down at Rs452 on the Bombay Stock Exchange, while the benchmark Sensex closed 1% down at 16,617 points.
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