Introduction:
Tata Steel Share Price | Shares of Tata Steel Company, a part of the Tata Group, are witnessing tremendous growth. Tata stock has started to run higher after news of important talks between the British government and Tata Steel. The British government is ready to provide 500 million pounds to Tata Steel Company.
Tata Steel Share Price Today:
Today, Monday September 4, 2023, shares of Tata Steel Company are trading at Rs 132.10, up 3.97 percent.
Tata Steel and British Steel Seek Capital:
According to media reports, British officials informed that Tata Steel Company and British Steel, two of the largest steel producers, were seeking capital from the British government to produce steel in a more eco-friendly manner from electric arc furnaces. Both the companies made repeated demands to the British government in this regard, but it was ignored.
Fear of Decreased Employment:
Tata Steel Company had requested the British Government to set up an environmentally friendly steel plant and meet all capital requirements. These new types of steel furnaces do not require much labor. In such a situation, the number of employees in the Tata Steel plant in Britain was feared to decrease. In Britain, Tata Steel Company employs 8,000 people through its various steel plants. However, the number of employees is likely to decrease in the future. More than 3,000 people may be laid off from Tata Steel plants in the UK in the near future.
Warning of Possible Closure:
Tata Steel Company had earlier warned the British Government that if the UK Government did not provide capital support for Tata Steel Company to set up environmentally friendly steel plants, Tata Steel Company may have to consider closing down its UK sites.
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