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Tata Steel rises on planning to invest Rs 300-400 crore in USL’s specialty steel division

27 Sep 2018 Evaluate

Tata Steel is currently trading at Rs. 615.25, up by 6.20 points or 1.02% from its previous closing of Rs. 609.05 on the BSE.

The scrip opened at Rs. 611.80 and has touched a high and low of Rs. 616.30 and Rs. 609.20 respectively. So far 45388 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 755.12 on 15-Jan-2018 and a 52 week low of Rs. 493.50 on 19-Jul-2018.

Last one week high and low of the scrip stood at Rs. 646.70 and Rs. 574.50 respectively. The current market cap of the company is Rs. 73336.89 crore.

The promoters holding in the company stood at 33.12%, while Institutions and Non-Institutions held 45.12% and 20.59% respectively.

Tata Steel is planning to invest Rs 300-400 crore in FY20 into Usha Martin’s specialty steel division. The Usha Martin (USL) board on September 22, 2018 had signed an agreement with the company to sell the Kolkata-based firm's steel and wire rope business for a cash consideration of up to Rs 4,300-4,700 crore in a slump sale.

The company will help in improving the blended EBITDA/tonne (operating margins per tonne) of the acquired business to Rs 8,000 per tonne by FY21, from the current Rs 6,800 per tonne on the back of captive coal supplies, optimisation of sales mix and other operational synergies.

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.

Tata Steel Share Price

211.35 -0.70 (-0.33%)
20-Apr-2026 11:54 View Price Chart
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