The ET Now poll suggests that the revenue at the company is expected to inch lower by 14% from Rs 63,430 crore in the quarter-ended June to Rs 54,298 crore during the period under review. Similarly, profit after tax at the steel major is seen to take a major hit by over 62% to Rs 2,932 crore from Rs 7,764 crore.

While analysts say the simplification and unification of the group's metals and mining businesses into a large-sized single entity will drive efficiency and cost reduction, investors of only Tata Steel appear to be happy about the proposed merger.

“Tata Steel has long had a roadmap to build a very meaningful long portfolio and the acquisition of NINL and its endeavours around that are a manifestation in that direction. With Tata Steel Long Products coming in the ambit of Tata Steel, their long products would get one strategic direction.”

In line with group level 5S strategy – simplification, synergy, scale, sustainability, and speed – proposed Scheme will simplify group holding structure, improve agility to enable quicker decision making, eliminate administrative duplications, consequently reducing administrative costs of maintaining separate entities, Tata Steel said.

Most of the swap ratio is aligned with prevailing market prices. TRF shareholders will be the only losers as the stock had rallied massively in the last few weeks.

The 7 companies to be merged are Tata Steel Long Products, The Tinplate Company of India, Tata Metaliks, TRF Limited, the Indian Steel & Wire Products, Tata Steel Mining and S&T Mining Company.

The board of Tata Steel has approved the amalgamation of 7 of its subsidiaries - Tata Steel Long Products, Tata Metaliks, The Tinplate Company of India, TRF, Indian Steel & Wire Products, Tata Steel Mining and S&T Mining into and with its parent company Tata Steel.

Since last one month, Tinplate Company of India has made nice base near Rs 300 levels. Recently on daily scale, the stock confirmed a Bullish Inverted Hammer candlestick pattern exactly at the mentioned historical support and that is adding more confirmation of further upside in the counter.

The Indian government levied a 15% export duty on steel 21 May in a bid to increase supply for domestic consumer industries and tame inflation. A steep export duty was also levied on iron ore while import duties were cut on inputs like coal to reduce the cost of production for steelmakers.

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