Tata Steel moves up on the bourses
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Tata Steel is currently trading at Rs. 1257.85, up by 9.60 points or 0.77% from its previous closing of Rs. 1248.25 on the BSE.
The scrip opened at Rs. 1241.00 and has touched a high and low of Rs. 1265.00 and Rs. 1233.35 respectively. So far 343506 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. 656.00 on 19-Feb-2021.
Last one week high and low of the scrip stood at Rs. 1265.00 and Rs. 1166.10 respectively. The current market cap of the company is Rs. 154063.45 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’s subsidiary -- Tata Steel Long Products (TSLP) has accepted Letter of Award (LoA) to acquire 93.71% stake in Neelachal Ispat Nigam (NINL). The process for acquisition of NINL is likely to be completed within the next couple of months in accordance with the timelines announced by DIPAM (Department of Investment and Public Asset Management). Earlier, on February 2, 2022, DIPAM issued the Letter of Award to TSLP for acquisition of 93.71% equity stake of NINL.
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.
