Tata Steel is currently trading at Rs. 468.75, up by 17.50 points or 3.88% from its previous closing of Rs. 451.25 on the BSE.
The scrip opened at Rs. 455.70 and has touched a high and low of Rs. 473.00 and Rs. 454.20 respectively. So far 996407 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 484.85 on 16-May-2014 and a 52 week low of Rs. 195.40 on 07-Aug-2013.
Last one week high and low of the scrip stood at Rs. 484.85 and Rs. 421.40 respectively. The current market cap of the company is Rs. 45608.28 crore.
The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 40.87 % and 24.81 % respectively.
Tata Steel and L&T Infrastructure Development Projects (L&T IDPL) have executed a definitive agreement with Adani Ports & Special Economic Zone to sell 100% stake in the Dhamra Port Company (DPCL) for an Enterprise Value of around Rs 5,500 crore. As per the agreement entered into amongst the parties, the transaction is subject to customary conditions precedent including lenders / third party approvals.
DPCL is a 50:50 joint venture between L&T IDPL and Tata Steel. The port was commissioned in May 2011 with an 18 km approach channel and a dedicated 62.7 km rail link to Bhadrak. In FY 2014, DPCL handled 14.3 mtpa of cargo.
As part of Tata Steel’s review of its investments portfolio, the Board of the Company has approved the divestment of its equity holding in the JV at an attractive valuation. To secure its long term requirement and access to a deep-water port for its operations in Jamshedpur and Odisha, Tata Steel has also entered into a long-term cargo handling arrangement with DPCL.
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.
| Company Name | CMP |
|---|---|
| Tata Steel | 211.65 |
| JSW Steel | 1274.85 |
| SAIL | 172.50 |
| Jindal Stainless | 789.80 |
| APL Apollo Tubes | 2141.55 |
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