This company of Tata group is planning for a capex worth Rs 16,000 crore!
Stock of the company has surged by more than 32 per cent in last one year
During the current financial year, Tata Steel plans to spend a total of Rs 16,000 crore on capital projects (capex) for its domestic and international businesses. The corporation has set aside Rs 2,000 crore for its Indian subsidiaries and Rs 10,000 crore for standalone operations out of the total sum anticipated. On a consolidated basis, the planned capital expenditure for FY2023–24 is set at Rs 16,000 crore and is intended to be financed through internal accruals over the course of the entire year. A total of Rs 10,000 crore of cash has been set aside for Tata Steel Standalone operations, of which the Kalinganagar project will make up roughly 70%. The company is now working to increase the capacity of its factory in Kalinganagar, Odisha, from 3 MT to 8 MT.
The scrip opened today at Rs 115.25 and touched the day high and low of Rs 115.50 and Rs 113.05, respectively. Its 52-week high stood at Rs 124.30, whereas its 52-week low was Rs 82.71. The current market cap of the company is Rs 1,39,306.95 crore. Promoters hold 33.90 per cent, whereas the Institutional and non-institutional holding are 41.46 per cent and 24.63 per cent respectively.
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Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. Asia's first fully integrated private steel company, Tata Steel Ltd, was founded in 1907. The business is present along the whole value chain of steel production, from the extraction and processing of iron ore and coal to the creation and distribution of completed goods. By 2025, the company hopes to reach a 30 MnTPA domestic steelmaking capacity.