- TATA Steel holds 54.5% of TATA Sponge.
- Manufactures sponge iron + produces power.
- Receives oron ore from TATA steel.
- Cost of Iron ore and coal constitutes 85% of production.
- Market cap: Rs.377 Crores
- Debt : Nil
- Cash balance : Rs.234 Crores => 62% of market value is in cash.
- 40% discount to book value.
- TATA Steel bought 11.26% stake from share holders by open offer for Rs.375/share. Current price is Rs.252.
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