Tata Steel inches up on planning to raise $600 million in FY20

22 Jul 2019 Evaluate

Tata Steel is currently trading at Rs. 458.95, up by 0.85 points or 0.19% from its previous closing of Rs. 458.10 on the BSE.

The scrip opened at Rs. 458.10 and has touched a high and low of Rs. 463.90 and Rs. 451.20 respectively. So far 273428 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 646.70 on 21-Sep-2018 and a 52 week low of Rs. 442.10 on 29-Jan-2019.

Last one week high and low of the scrip stood at Rs. 479.70 and Rs. 451.20 respectively. The current market cap of the company is Rs. 54877.74 crore.

The promoters holding in the company stood at 33.12%, while Institutions and Non-Institutions held 44.16% and 21.61% respectively.

Tata Steel is planning to raise $600 million in the current financial year (FY20) to fund the second phase of increasing production capacity at its Kalinganagar plant to 8 mtpa from 3 mtpa, and refinance old loans. The company has set a target of reducing gross debt by $1 billion in FY20. It has net debt of Rs 1 trillion, as of March 2019.

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

155.90 3.05 (2.00%)
28-Mar-2024 16:01 View Price Chart
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