Tata Steel surges on planning capex of Rs 12,000 crore during FY23
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Tata Steel is currently trading at Rs. 915.70, up by 11.40 points or 1.26% from its previous closing of Rs. 904.30 on the BSE.
The scrip opened at Rs. 904.10 and has touched a high and low of Rs. 922.00 and Rs. 901.00 respectively. So far 334194 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. 922.00 and Rs. 877.50 respectively. The current market cap of the company is Rs. 112326.73 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 planned capital expenditure (capex) of Rs 12,000 crore during the current financial year (FY23), of which Rs 8,500 crore in India and Rs 3,500 crore on the company's operations in Europe.
In India, the focus will be on the Kalinganagar project expansion and mining activity, and in Europe, it will be focused on sustenance, product mix enrichment and environment-related capex.
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.
