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Tata Steel surges on incorporating new subsidiary for Odisha project

24 May 2013 Evaluate

Tata Steel is currently trading at Rs 312.00, up by 12.50 points or 4.17% from its previous closing of Rs 299.50 on the BSE.

The scrip opened at Rs. 310.40 and has touched a high and low of Rs 319.40 and Rs 310.40 respectively. So far 724006 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 454.90 on 04-Jul-2012 and a 52 week low of Rs 292.70 on 16-Apr-2013.

Last one week high and low of the scrip stood at Rs 319.45 and Rs 295.60 respectively. The current market cap of the company is Rs 29087.90 crore.

The promoters holding in the company stood at 31.35% while Institutions and Non-Institutions held 41.12% and 25.29% respectively.

Tata Steel has incorporated a new subsidiary, Tata Steel Odisha, in order to spearhead its new greenfield six million tonne steel plant located in Odisha’s Kalinganagar. The project will be implemented in two phases of 3 million tonne each.

The company has successfully negotiated for financial closure which will meet the funding requirement of both the phases of the project. The company managed Rs 22,800 crore worth of project financing and tied up with a consortium of 21 banks and financial institutions for the same.

Tata Steel has successfully implemented its 3 million tonnes per annum brownfield expansion at Jamshedpur to take total capacity to 10 million tonnes in March 2013. The group is now embarking on its next phase of growth and is setting up a 6 million tonne steel project in Odisha.

Tata Steel Share Price

203.10 0.25 (0.12%)
09-Jun-2026 16:59 View Price Chart
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