Tata Steel inches up on planning to boost operation of Neelachal Ispat Nigam after completing acquisition
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Tata Steel is currently trading at Rs. 881.15, up by 1.75 points or 0.20% from its previous closing of Rs. 879.40 on the BSE.
The scrip opened at Rs. 872.00 and has touched a high and low of Rs. 888.60 and Rs. 865.00 respectively. So far 243418 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1534.60 on 16-Aug-2021 and a 52 week low of Rs. 827.10 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 888.60 and Rs. 827.10 respectively. The current market cap of the company is Rs. 107681.85 crore.
The promoters holding in the company stood at 33.92%, while Institutions and Non-Institutions held 43.38% and 21.91% respectively.
Tata Steel is planning to boost the operation of Neelachal Ispat Nigam (NINL) after completing acquisition, to rated capacity of 1.1 million tonne per annum within the next one year. However, the ramping up of the operations of Neelachal Ispat Nigam would be subject to obtaining statutory clearances.
Tata Steel’s arm, Tata Steel Long Products (TSLP), in January this year won the bid to acquire a 93.71 per cent stake in NINL at an enterprise value of Rs 12,100 crore.
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.
