Tata Steel's wholly owned subsidiary, Tata Steel Advanced Materials (TSAML), has divested its entire stake in Ceramat Private (CPL) to Lionstead Applied Materials for ₹99.99 lakh. "With this divestment, TSAML ceases to hold any securities in CPL and consequently, CPL ceases to be a subsidiary of Tata Steel," the firm stated. CPL reported ₹1.73 crore turnover in FY25.