At 12:08 PM today, shares of Tata Steel were trading at Rs 216.05, up 1.19 per cent from the previous close. The stock opened at Rs 213.20 and moved between intraday high of Rs 218.24 and low of Rs 212.20.
What is driving the rally?
The dispute stemmed from two demand letters issued by the Deputy Director of Mines, Jajpur. The first, dated July 3, 2025, raised a demand of Rs 1,902.72 crore for the fourth year of the Mine Development and Production Agreement (July 2023–July 2024). The second, dated October 3, 2025, demanded Rs 2,410.89 crore for the fifth year (July 2024–July 2025). Both cited alleged violations of Rule 12A of the Minerals Concession Rules, 2016. Tata Steel had challenged both through separate writ petitions before the High Court.
On April 20, the High Court delivered its final judgment and disposed of both petitions. The court upheld the validity of Rule 12A and the 2021 amendments, saying they were constitutionally valid and within the scope of the parent law. Earlier, the court had granted interim protection against coercive recovery.
Tata Steel Q3 results FY 2026
Earlier this year, Tata Steel reported its earnings for the third quarter ended December 31, 2025. The Tata Group company reported an increase of 722.3 per cent year-on-year (YoY) to Rs 2689 crore in the reporting quarter against Rs 327 crore posted in the same quarter of the previous financial year.
The company’s revenue from operations was at Rs 57,002 crore in the quarter under review against Rs 53,648 crore. This represents a year-on-year increase of 6.3 per cent YoY.
India revenues were at Rs 35,725 crore and EBITDA was Rs 8,291 crore, which translates to a margin of 23 per cent. Crude steel production was up 12 per cent YoY to 6.34 million tons. Improved production led to ‘bestever quarterly’ deliveries to the tune of 6.04 million tons, up 14 per cent YoY.
EBITDA was up 38.9 per cent YoY to come in at Rs 8,199.4 crore in Q3 FY26 against Rs 5,903.3 crore in the same quarter of the previous fiscal. EBITDA margin improved 338 bps YoY to 14.4 per cent in the October-December 2025 period against 11 per cent reported in the year-ago period.
The company’s total income rose to Rs 57,503.49 crore during the reporting quarter from Rs 53,869.33 crore posted by the company in the year-ago period.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
