Monday , September 27 2021

Tata Steel surges on planning to invest Rs 8,000 crore in capex on India operations during FY22

Tata Steel is currently trading at Rs. 1452.40, up by 12.90 points or 0.90% from its previous closing of Rs. 1439.50 on the BSE.

The scrip opened at Rs. 1440.00 and has touched a high and low of Rs. 1457.50 and Rs. 1433.00 respectively. So far 188254 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. 343.00 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 1457.50 and Rs. 1365.70 respectively. The current market cap of the company is Rs. 174525.07 crore.

The promoters holding in the company stood at 34.41%, while Institutions and Non-Institutions held 41.32% and 23.43% respectively.

Tata Steel is planning to invest Rs 8,000 crore in capital expenditure on its India operations during the current financial year (FY22). The amount will be spent mainly towards completion of the expansion of the Kalinganagar plant, and expansion of mining operations and recycling business.

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.

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