The shares of Tata Steel Limited were trading at ₹124.75 down by ₹2.68 or 2.10 per cent on the NSE today at 11.22 am. The stocks reached its 52-week low today at ₹124.60.

Tata Steel Limited has been slapped with a penalty of ₹1.46 crore by Maharashtra’s Collector of Stamps for delayed filing of stamp duty application related to its merger with The Tinplate Company of India Limited. The steel giant received the adjudication order on January 9, 2025, following the enforcement action by the Mumbai stamp authority.

The penalty stems from the company’s belated submission of stamp duty documentation required under the Maharashtra Stamp Act, 1958. The merger scheme, which became effective January 15, 2024, was previously sanctioned by the National Company Law Tribunal’s Mumbai Bench in October 2023.

The penalty order was dated January 6, 2025, specifically addressing the delay in stamp duty application for the amalgamation scheme implementation.