Tata Steel Ltd (BSE: 500470) has issued a clarification to the Bombay Stock Exchange regarding media reports claiming that the company plans to invest around ₹11,000 crore in Jharkhand for developing advanced grade steel. The company said that the reported figure does not represent a single new project but refers to multiple ongoing and previously approved capital expenditure projects across its operations.
According to the company, Tata Steel regularly undertakes capital expenditure projects to support operational efficiency, sustainability initiatives, capacity expansion, and improvement in product mix. Over the past two financial years, the board has approved or deliberated on several such projects across various operational units, including those located in Jharkhand.
The company also noted that earlier approved projects include the expansion of the Tinplate Division by 300 KTPA and the setting up of a 0.5 million tonnes per annum Special Bar and Wire Rod Combi Mill. These projects were originally approved by companies that were later merged with Tata Steel as part of corporate restructuring.
Tata Steel further explained that the cumulative investment value of these projects is approximately ₹11,000 crore. Many of these projects are already ongoing and have been discussed earlier in investor presentations, analyst meetings, and the company’s annual reports. Any material developments related to these projects will be disclosed as required under SEBI listing regulations.
The company also clarified the recent decline in its share price. Tata Steel stated that the downward movement observed on March 4, 2026 was mainly due to external global factors such as geopolitical tensions in West Asia, a stronger US dollar, and softer global steel prices. The company added that the price movement does not appear to be linked to the news regarding the investment.
As of the latest market session, Tata Steel shares (BSE: 500470) are trading around ₹200 per share on BSE. Compared with the previous week, the stock has shown a slight decline.
