Tata Steel surges on partnering with Ford to supply zeremis green steel from Netherlands-based plant
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Tata Steel is currently trading at Rs. 104.35, up by 3.20 points or 3.16% from its previous closing of Rs. 101.15 on the BSE.
The scrip opened at Rs. 102.05 and has touched a high and low of Rs. 104.65 and Rs. 102.05 respectively. So far 1999589 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. 104.65 and Rs. 98.80 respectively. The current market cap of the company is Rs. 126634.19 crore.
The promoters holding in the company stood at 33.92%, while Institutions and Non-Institutions held 41.06% and 24.24% respectively.
Tata Steel has entered into an agreement with American carmaker Ford to supply zeremis green steel from its Netherlands-based IJmuiden plant after the unit shifts to hydrogen-based steel making. In Europe, Tata Steel is working to switch to low-carbon technologies to manufacture steel in the UK and the Netherlands.
The company's both businesses Tata Steel UK and Tata Steel Nederland have been developing detailed plans for transition to low CO2 technologies in line with the company's goal to produce CO2-neutral steel by 2050 in Europe.
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.
