Tata Steel to raise $1.6 billion additional capital: Chief financial officer

Tata Steel, the world's seventh-largest steel maker by output, will raise additional capital of Rs70 billion ($1.6 billion), chief financial officer Koushik Chatterjee said on Friday. 

He said the company would approach shareholders for their approval in coming weeks.                                           

The company on Friday beat analysts' forecasts by posting a net profit after taxes, minority interest and share of profit of associates of Rs19.79 billion ($442 million) for its fiscal second quarter ended September.