Tata Steel is currently trading at Rs 368.60, up by 4.25 points or 1.17% from its previous closing of Rs. 364.35 on the BSE.
The scrip opened at Rs. 367.00 and has touched a high and low of Rs. 369.00 and Rs. 364.50 respectively. So far 64317 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 500.90 on 21-Feb-2012 and a 52 week low of Rs. 332.35 on 02-Jan-2012.
Last one week high and low of the scrip stood at Rs. 373.70 and Rs. 359.15 respectively. The current market cap of the company is Rs. 35643.57 crore.
The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 42.06 % and 24.70 % respectively.
Tata Steel is restructuring proposals to improve the competitiveness of its UK operations so they can successfully perform in changing markets. The news coincides with a decision that the company is to restart Blast Furnace 4 - one of two blast furnaces in Port Talbot, South Wales, which is being rebuilt as part of a 250 million pound investment programme - in the first quarter of 2013. It will also lead to the restarting of the hot strip mill at the company’s Llanwern site in Newport, South Wales.
The proposals include the restructuring of management and administrative functions which would lead to the loss of 500 jobs at Tata Steel’s Port Talbot-based production hub in South Wales. Similar restructuring programmes were initiated last year at the company’s other two production hubs.
The company is proposing to make changes at a number of steel finishing and processing sites in the UK that would improve its product and service offering for customers. These changes would concentrate services at six distribution and processing hubs which would benefit from 22 million pound of new investment and new employment, but would also lead to the closure of 12 sites, including Tafarnaubach and Cross Keys in South Wales.
In addition, shift levels at the company’s Rotherham and Hartlepool operations will be reduced to match production to lower demand for bar products and pipelines.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
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