Ad-H Ad-H

Why Tata Steel Stock Fell 4.50% Today? Leading Steel Stocks Declining Too


Ad P
Why Tata Steel And Other Leading Steel Stocks Are Falling?

Why Tata Steel And Other Leading Steel Stocks Are Falling?

Shares of leading steel makers such as JSW Steel Ltd, Tata Steel Ltd, Steel Authority of India Ltd and Jindal Steel Ltd witnessed sharp decline today.

Tata Steel Ltd declined 4.50% today to close at 105.05 apiece, JSW Steel witnessed a decline of 3.22% intraday to close at 642 apiece, Steel Authority of India dipped 4.40% to close at 78 apiece, and Jindal Steel fell the most with 5.19% to close at 383 apiece.

Earlier, prices of leading steel stocks soared due to the Russia-Ukraine war. Now the prices of steel stocks are falling as a result of poor demand for steel internally and from China. In the previous month, these steel stocks gave returns between 8 to 16% to investors.

Tata Steel Stock Outlook

Tata Steel Stock Outlook

The current market price of Tata Steel is 105 apiece with a 52-week high of Rs 147 apiece and 52-week low of Rs 82 apiece, respectively.

Tata Steel Market Capitalization

Tata Steel Market Capitalization

The market capitalization of Tata Steel Ltd is Rs 1,28,284.49 crore.

Tata Steel Return

Tata Steel Return

The stock of Tata Steel has fallen 7% in 1 week, 10% in 3 months, and 23% in 1 year. The stock has given multibagger return too with 214% return in 3 years and 69% return in 5 years.

Tata Steel Q1 results

Tata Steel Q1 results

Tata Steel declared a consolidated net profit at Rs 7,765 crore for the quarter ended June, down 12.8% over the year-ago period, in what the company described as a “challenging” quarter. Sequentially, net profit was down 20.4 per cent. Meanwhile, Tata Steel’s revenue from operations was reported at Rs 63,430 crore, higher by 18.6% year-on-year.

About Tata Steel

About Tata Steel

The company set up its second greenfield steel plant of 3 MnTPA in the eastern state of Odisha in 2016; the expansion to 8 MnTPA in currently underway. It possesses and operates captive mines that help it maintain cost- competitiveness and production efficiencies through an uninterrupted supply of raw material. This is how it ensures that it remains the lowest cost producer of steel in Asia.

The Indian product portfolio is divided into four segments – Automotive and Special Products; Industrial Products, Projects and Exports; Branded Products and Retail; and Services and Solutions. The Company supplies hot-rolled, cold-rolled, galvanised, branded solution offerings and more.



Source link

Leave a Comment