Tata Steel Ltd Share Price – NSE  /  BSE

Steel, Mid Cap

Tata Steel will hold a meeting of the Board of Directors of the Company on 31 July 2024.

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The credit rating agency stated that the ‘negative’ outlook reflects uncertainty surrounding turnaround of the UK operations and risks to our forecast that TSL's EBITDA leverage may improve to below 3.0x by the financial year ending March 2025 (FY25).

The change in the UK government and labour union's actions to save job losses at TSL's UK operations may delay its plan to reduce losses through FY25.

We expect robust growth in Indian operations and likely EBITDA profits at Dutch operations in FY25, may offset any losses at UK operations,” Fitch Ratings said in a statement.

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

The company’s consolidated net profit declined 64.59% to Rs 554.56 crore on 6.79% rise in revenue from operations to Rs 554.56 crore in Q4 FY24 over Q4 FY23.

The scrip shed 0.18% to end at Rs 168.70 on the BSE on Friday.

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Tata Steel India deliveries stood at 4.94 million tons, up by 3.13% YoY, which were the ‘best ever 1Q’ sales, stated the company.

Tata Steel Netherlands liquid steel production for the quarter stood at 1.72 million tons (up 82.97% YoY and up 16.21% QoQ) and deliveries were at 1.52 million tons (up 11% YoY and up 6.3% QoQ) aided by improved production.

Tata Steel UK liquid steel production for the quarter stood at 0.68 million tons, down 19.99% YoY and up 3.03% QoQ. Deliveries stood at 0.69 million tons, up 8.69% YoY and flat at QoQ basis. Operations have been ceased at Blast Furnace 5 at Port Talbot where the last liquid iron was produced on 4 July and it is being safely decommissioned.

In Thailand, Tata Steel production climbed 19.23% YoY to 0.31 million tons and deliveries stood at 0.31 million tons, up by 14.81% YoY in Q1 FY25.

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

The company’s consolidated net profit declined 64.59% to Rs 554.56 crore on 6.79% rise in revenue from operations to Rs 554.56 crore in Q4 FY24 over Q4 FY23.

The scrip shed 1.40% to currently trade at Rs 172.30 on the BSE.

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Tata Steel Ltd is down for a fifth straight session today. The stock is quoting at Rs 172.35, down 0.12% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.46% on the day, quoting at 23977.8. The Sensex is at 79080.79, up 0.52%.Tata Steel Ltd has lost around 1.46% in last one month.Meanwhile, Nifty Metal index of which Tata Steel Ltd is a constituent, has eased around 1.03% in last one month and is currently quoting at 9714.3, down 0.01% on the day. The volume in the stock stood at 282.09 lakh shares today, compared to the daily average of 571.17 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 172.15, down 0.32% on the day. Tata Steel Ltd jumped 54.5% in last one year as compared to a 26.38% rally in NIFTY and a 56.39% spurt in the Nifty Metal index.

The PE of the stock is 20.32 based on TTM earnings ending March 24.

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