Tata Steel rises on registering best ever performance in production and sales in FY14

Tata Steel is currently trading at Rs. 413.80, up by 5.40 points or 1.32% from its previous closing of Rs. 408.40 on the BSE. The scrip opened at Rs. 409.20 and has touched a high and low of Rs. 416.50 and Rs. 408.00 respectively. So far 281558 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. 424.50 and Rs. 407.00 respectively. The current market cap of the company is Rs. 40305.44 crore. The promoters holding in the company stood at 31.35% while Institutions and Non-Institutions held 40.87% and 24.81% respectively. Tata Steel has registered its best ever performance in FY14 in Hot Metal, Crude Steel, Saleable Steel production and total Sales. For the fiscal ended March, the company’s sales were up by 14% at 8.52 million tonnes (MT). Annual sales to the automotive, industrial products and LPG segments rose to 1.17 MT, 1.7 MT and 1.1 lakh tonnes, respectively. The company’s crude steel production touched the highest-ever at 9.15 MT compared with the previous best of 8.13 MT in 2012-13. Saleable steel production of the company has increased by 12% to 8.93 MT in the April-March period from 7.94 MT a year ago. The company’s Hot metal production exceeded the previous best at 9.89 MT in the previous financial year against 8.86 MT in 2012-13. The company’s Ore Mines & Quarries (OMQ) division has achieved its highest ever iron ore dispatch of 17.30 MT as compared to 15.0 MT in FY13. Moreover, West Bokaro Division (one of the Collieries) has achieved its highest ever clean coal production of 2.57 MT as against 2.33 MT in FY13. Further, the company has registered best ever total Coke Production (Jamshedpur & Haldia) of 4.28 MT as compared to 3.71 MT in FY13.