Tata Steel engaged in getting big money from the British government, the company has a big influence in the UK, know what TV Narendran said.

New Delhi: Tata Steel, a company of veteran industrialist Ratan Tata, is trying to get a financial package from the UK government. Tata Steel CEO TV Narendran has said this. He was asked a question related to the company’s exit from the UK business. Narendran is also the MD of Tata Steel. After an event in Delhi, he told the media, ‘Tata Steel is still working on the request for a financial package from the government in the UK.’

Owner of the largest steelworks in the UK

Narendran said that so far no result has come out of the request made for the financial package. Tata Steel is a Tata Group company. It owns the largest steelworks in the UK at Port Talbot, South Wales. It has around 8,000 employees across all its operations in the country. The company had requested a financial package of £1.5 billion (Rs 1,52,51,49,96,900) from the UK government to support its decarbonisation plans.

UK government has given counter offer

Earlier this year, the UK government made a counter offer to Tata Steel for a financial package. But it fell short of the company’s expectations. Narendran said, “Tata Steel believes that it cannot imagine a good future in the UK without the support of the government.”

Stock closed with a fall

Tata Steel Share on the Bombay Stock Exchange closed with a fall on the last trading day of last week. The stock closed at Rs 107.45, down 0.14 per cent or Rs 0.15. The 52 week high of Tata Steel stock is Rs 136.66 and the 52 week low is Rs 82.71. The market cap of the company was Rs 1,31,302.91 crore on BSE.