Tata Steel trades in green on planning to restart NINL in coming three months
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Tata Steel is currently trading at Rs. 864.05, up by 5.65 points or 0.66% from its previous closing of Rs. 858.40 on the BSE.
The scrip opened at Rs. 865.00 and has touched a high and low of Rs. 873.85 and Rs. 858.00 respectively. So far 355069 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. 879.00 and Rs. 838.30 respectively. The current market cap of the company is Rs. 106147.81 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 restart Neelachal Ispat Nigam (NINL) in coming three month and ramp-up to the rated capacity over the next 12 months. NINL has been closed for almost two years. The company had completed the acquisition of NINL through step down subsidiary company -- Tata Steel Long Products (TSLP) for a consideration of Rs 12,000 crore.
During this time, Tata Steel will also work towards finalizing the plans for the NINL capacity expansion to 5 million tonnes and take the requisite clearances internally and externally.
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.
