Tata Steel eyes companies in NCLT list
With a growing market share in the domestic flat steel segment, Tata Steel is eyeing firms facing insolvency under the National Company Law Tribunal (NCLT) to strengthen its long products portfolio. “We will grow in the long products business via the inorganic route and the NCLT is one place which we will be watching for good asset buys in longs,” said T V Narendran, managing director (MD) and chief executive officer (CEO) of Tata Steel in a statement. Both of Tata Steel’s recent acquisitions — Bhushan Steel and Usha Martin — were through the NCLT.
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