Friday 17 January 2014

Tata Steel surges on unveiling two new products

Tata Steel is currently trading at Rs. 383.90, up by 2.90 points or 0.76 % from its previous closing of Rs. 381.00 on the BSE.

The scrip opened at Rs. 383.00 and has touched a high and low of Rs. 384.90 and Rs. 381.15 respectively. So far 59201 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 435.40 on 02-Jan-2014 and a 52 week low of Rs. 195.40 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 392.65 and Rs. 372.70 respectively. The current market cap of the company is Rs. 37003.30 crore.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 41.45 % and 24.22 % respectively.

Tata Steel has unveiled two new products -- branded ferro manganese and ferro chrome for non-integrated steel and stainless steel makers in the country. The products will be sold in 50 kg & 1 tonne tear-proof bags. Tata Steel is aiming to achieve 38% share in the domestic ferro chrome market and 10% share in ferro manganese market in the financial year 2015.

Ferro chrome is a corrosion-resistant alloying agent and is used for producing stainless steel, while ferro manganese is utilised to toughen and harden carbon steel.

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.

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