Tata Steel transfers stake in HSMS, TSAML to subsidiary cos

NEW DELHI: on Friday announced transferring of its 26 per cent stake in Himalaya Steel Mill Services Private Limited (HSMS) to Tata Steel Utilities and Infrastructure Services Limited (TSUISL) for an undisclosed amount.

TSUISL is a wholly-owned subsidiary of Tata Steel, the company said in a statement.

It has also transferred its 100 per cent stake held in Tata Steel Advanced Materials Limited (TSAML) to another subsidiary company Tata Steel Downstream Products Limited (TSDPL).

Tata Steel did not disclose any financial details related to the share transfer.