Tata Steel sells Chinese subsidiary for Rs 36 crore

Industry:    2017-04-02

Tata SteelBSE 0.94 % said wholly-owned Chinese subsidiary Kalzip Guangzhou Ltd has divested entire stake for 5.2 million Euros (Rs 36.05 crore) to Shanghai Qinheng International Trade co, the steelmaker said in a regulatory filing on BSE.

The unit posted a revenue of 2.26 million Euros and EBITDA loss of 1.15 million Euros.

Shares of Tata Steel closed up 1 per cent at Rs 482.25 apiece on Friday on BSE.
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