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Tata Steel gains on plans to raise $1 billion by selling high-yield bonds

28 Mar 2013 Evaluate

Tata Steel is currently trading at Rs. 306.60, up by 0.40 points or 0.13% from its previous closing of Rs. 306.20 on the BSE.

The scrip opened at Rs. 305.00 and has touched a high and low of Rs. 308.70 and Rs. 300.85 respectively. So far 947565 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 482.00 on 03-Apr-2012 and a 52 week low of Rs. 300.85 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 342.20 and Rs. 305.00 respectively. The current market cap of the company is Rs. 29859.99 crore.

The promoters holding in the company stood at 31.35% while Institutions and Non-Institutions held 42.74% and 23.84% respectively.

Tata Steel, country’s largest producer of the alloy is likely to raise $1 billion, by selling high-yield bonds. The company is in discussion with banks to arrange the sale and these banks may be hired by early next month and proceeds from the sale will be mainly used to refinance loans. Other than this, the entity is also raising money for its new factory in the eastern state of Odisha.

Tata Steel is the first integrated steel plant in Asia and is the world’s second most geographically diversified steel producers with an annual crude steel capacity of over 26.5 million tonnes.

 

Tata Steel Share Price

210.00 -0.95 (-0.45%)
24-Apr-2026 16:59 View Price Chart
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