Tata Steel Crude Steel Production Up 13% YOY

7 October 2016

Tata Steel Ltd is currently trading at Rs. 395.45, up by Rs. 6.15 or 1.58% from its previous closing of Rs. 389.3 on the BSE. The company registered Hot Metal production of 3.12 million tonnes in Q2 FY'17 (up by 17 per cent y-o-y) and 6.14 million tonnes in H1 FY'17 (up by 17 per cent y-o-y).

Crude steel production was 2.82 million tonnes in  Q2 FY'17 (up by 13 per cent y-o-y) and 5.35 million tonnes in H1 FY'17 (up by 10 per cent y-6-y).

Saleable Steel production increased by 11per cent y-o-y in Q2 FY'17 (to 2.71 million tonnes) and by 9 per cent y-o-y in Hl FY'l 7 (to 5.06 million tonnes).

Production & Sales Highlights:

Blast Furnaces achieved lowest best-ever coke rate of 372 Kg/thm in Q2 (Previous best 375 Kg/thm in Q2 FY'15) & of 365 Kg/thm in Hl (Previous best 391 Kg/thm in Hl FY'15)
Sales to Automotive segment grew by 7 per cent y-o-y in line with market growth, thereby retaining leadership position.

Availability of additional volumes enabled 12 per cent y-o-y growth in sales to Industrial Products and Projects segments

The scrip opened at Rs. 391.6 and has touched a high and low of Rs. 395.7 and Rs. 390 respectively. So far 2456704 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 37809.42 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 408.5 on 08-Sep-2016 and a 52 week low of Rs. 211.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 396.5 and Rs. 363.9 respectively.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 40.43 % and 28.21 % respectively.

The stock is currently trading above its 50 DMA.


Source : indiainfoline.com