Tata Steel's board has approved a massive capital expenditure of ₹33,873 crore for the expansion of Neelachal Ispat Nigam Limited (NINL).
The investment aims to significantly boost India's steel production capacity, aligning with the company's long-term goal of reaching 40 MTPA (Million Tonnes Per Annum).
The company also reported a 12% rise in Q1 net profit to ₹2,318 crore, reflecting strong domestic demand despite global economic headwinds.