01-01-1970 12:00 AM | Source: Accord Fintech
Tata Steel gains on completing CargoDocs eB/L transaction for imports into Turkey
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Tata Steel is currently trading at Rs. 123.15, up by 0.25 points or 0.20% from its previous closing of Rs. 122.90 on the BSE.

The scrip opened at Rs. 123.30 and has touched a high and low of Rs. 123.85 and Rs. 122.35 respectively. So far 741224 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 138.63 on 06-Apr-2022 and a 52 week low of Rs. 82.71 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 124.30 and Rs. 118.00 respectively. The current market cap of the company is Rs. 150408.66 crore.

The promoters holding in the company stood at 33.90%, while Institutions and Non-Institutions held 41.65% and 23.72% respectively.
 
Tata Steel has completed the first-ever CargoDocs electronic Bill of Lading (eB/L) transaction for imports into Turkey, in a shipment involving Tata Steel as the shipper and Tatmetal Celik Sanayi Ve Ticaret as the receiver. The milestone transaction covered the export of steel coils in bulk, shipped from Dhamra Port, India, to the Port of Karadeniz Eregli, Turkey.

The original eB/L was handled via CargoDocs, the digital trade platform provided by essDOCS, with all key actions such as drafting, collaborative review, sign, issue, endorse and surrender carried out online via the single, secure platform - eliminating reliance on emails and error-prone manual processes, and significantly accelerating the trade. Specifically, the original eB/L was transferred throughout the entire chain in less than 48 hours, compared to days or even weeks required in a traditional paper-based transaction.

Tata Steel’s recent shipment into Turkey marks yet another milestone in a series of successful paperless transactions initiated and completed by the Company, supporting its strategic digital trade efforts aimed at optimising shipping & trade document processes. By using eDocs, the Company achieved significant time and cost savings, improved trade transparency and visibility, reduced the risk of fraudulent documents and eliminated the need to use charterer’s Letter of Indemnity (LOI).

Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.