Tata Steel Ltd Share Price – NSE  /  BSE

Steel, Mid Cap

Tata Steel announced that the National Company Law Tribunal (NCLT), Delhi Bench has approved the scheme of amalgamation amongst Tata Stele and Angul Energy (transferor company). The scheme is pending sanction from the NCLT, Mumbai Bench, having jurisdiction over the transferee company.

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Tata Steel India deliveries stood at 5.41 million tons, up by 5.04% YoY while the deliveries increased by 10.86% QoQ basis in Q4 FY24.

Tata Steel Netherlands liquid steel production for the quarter stood at 1.47 million tons (down 3.92% YoY and up 23.52%) and deliveries were at 1.40 million tons (down 5.40% YoY and up 7.69% QoQ). For the quarter, production and deliveries improved on QoQ basis primarily driven by restart of BF6 upon completion of relining in early February.

Tata Steel UK liquid steel production for the quarter stood at 0.70 million tons, down 5.40% YoY and down 2.77% QoQ. Deliveries stood at 0.69 million tons, down 9.21% YoY and up 7.81% QoQ. Q3 deliveries were impacted by seasonal factors.

In Thailand, Tata Steel Thailand production was constant and deliveries stood at 0.32 million tons, up by 3.22% YoY in Q4 FY24.

In FY24 the company has achieved highest ever annual crude steel production of around 20.8 million tons, with a growth of 4% YoY by debottlenecking across sites and achieving higher steel production at Neelachal Ispat Nigam.

Tata Steel India deliveries increased by 6% YoY and surpassed the previous best recorded in FY2023. Domestic deliveries grew at a higher rate of 9% YoY leveraging India steel demand growth and its agile business model.

Tata Steel Netherlands liquid steel production in FY2024 stood at 4.80 million tons and deliveries were at 5.30 million tons and Tata Steel UK liquid steel production stood at 3.02 million tons and deliveries were at 2.80 million tons.

Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum.

Tata Steel reported net profit to Rs 522.14 crore in Q3 FY24 as against net loss of Rs 2,501.95 crore posted in Q3 FY23. Revenue from operations fell 3.1% to Rs 55,311.88 crore in Q2 FY24 as compared with Rs 57083.56 crore in Q3 FY23.

The scrip shed 0.03% to settle at Rs 163.35 on Friday, 05 April 2024.

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Tata Steel Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 155.15, up 1.6% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 1.31% on the day, quoting at 22414.25. The Sensex is at 73914.88, up 1.26%. Tata Steel Ltd has risen around 10.15% in last one month.

Meanwhile, Nifty Metal index of which Tata Steel Ltd is a constituent, has risen around 4.12% in last one month and is currently quoting at 8154.95, up 1.14% on the day. The volume in the stock stood at 289.09 lakh shares today, compared to the daily average of 720.89 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 155.05, up 1.44% on the day. Tata Steel Ltd is up 49.76% in last one year as compared to a 31.23% spurt in NIFTY and a 51.06% spurt in the Nifty Metal index.

The PE of the stock is 10.94 based on TTM earnings ending December 23.

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Tata Steel has allotted 2,70,000 - 7.79% Fixed rate, Unsecured, Redeemable, Rated, Listed, NCDs having face value Rs 1,00,000/- each, for cash, aggregating to Rs 2,700 crore, for a tenor of 3 years on private placement basis.

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