Tata Steel moves up on inking agreement with Indian Oil Corporation to reduce carbon footprint
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Tata Steel is currently trading at Rs. 127.95, up by 1.20 points or 0.95% from its previous closing of Rs. 126.75 on the BSE.
The scrip opened at Rs. 128.05 and has touched a high and low of Rs. 129.05 and Rs. 127.60 respectively. So far 1090411 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 134.85 on 18-Sep-2023 and a 52 week low of Rs. 95.70 on 30-Sep-2022.
Last one week high and low of the scrip stood at Rs. 130.55 and Rs. 126.15 respectively. The current market cap of the company is Rs. 156251.38 crore.
The promoters holding in the company stood at 33.90%, while Institutions and Non-Institutions held 41.40% and 23.97% respectively.
Tata Steel has signed an agreement with Indian Oil Corporation and its business associate to further reduce carbon footprint at its Ferro Alloys plant. The agreement encompasses LPG supply, installation of LPG facilities, and the operation and maintenance of the same at the company's Ferro Alloys Plants in Gopalpur of Ganjam and Athagarh of Cuttack districts in Odisha.
Tata Steel has decided to transition from Furnace Oil and High-Speed Diesel to a more sustainable fuel option - Liquified Petroleum Gas (LPG) in response to the pressing environmental concerns and the global imperative to reduce carbon emissions. This eco-friendly move is expected to bring about a considerable reduction in carbon emissions.
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.
