Tata Steel jumps on completing shipment of TMT bars to Assam via IBP route
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Tata Steel is currently trading at Rs. 1204.10, up by 58.90 points or 5.14% from its previous closing of Rs. 1145.20 on the BSE.
The scrip opened at Rs. 1138.00 and has touched a high and low of Rs. 1213.60 and Rs. 1130.05 respectively. So far 566846 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. 681.20 on 19-Mar-2021.
Last one week high and low of the scrip stood at Rs. 1213.60 and Rs. 1068.00 respectively. The current market cap of the company is Rs. 147273.37 crore.
The promoters holding in the company stood at 33.92%, while Institutions and Non-Institutions held 39.57% and 25.71% respectively.
Tata Steel has reiterated its commitment to build a sustainable future by shipping nearly 1,800 tonnes of finished steel products from Haldia Port in West Bengal to Pandu Port in Assam using the Indo-Bangladesh Protocol (IBP) route via Brahmaputra River. This shipment of Tata Steel's TMT bars that arrived at Haldia on rail before being loaded on to river barges marks the beginning of the use of multimodal logistics, a landmark effort to decarbonise the steel sector and the country.
The Indo-Bangladesh Protocol route will help service the growing North East market better. This route can also be explored for servicing other locations enroute this waterway to deliver steel in smaller lots and in better condition for the benefit of customers in the North-East.
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.
