30 Aug 2024

Tata Steel Rises After Acquiring Stake in TP Parivart

Tata Steel's stock is currently trading at Rs. 154.75, reflecting an increase of 1.14% or 1.75 points from its previous closing price of Rs. 153.00 on the BSE.

The stock opened at Rs. 153.05 and reached an intraday high of Rs. 155.20, with a low of Rs. 153.05. A total of 1,342,467 shares have been traded so far.

Tata Steel, categorized under the BSE group 'A' with a face value of Rs. 1, achieved its 52-week high of Rs. 184.60 on June 18, 2024, and its 52-week low of Rs. 114.25 on November 2, 2023. Over the past week, the stock fluctuated between Rs. 156.50 and Rs. 151.20. The company's market capitalization currently stands at Rs. 1,93,243.90 crore.

The company’s ownership structure shows that promoters hold 33.19%, while institutional investors control 43.19% and non-institutional investors hold 22.98%.

Tata Steel has completed the purchase of 13,000 equity shares of TP Parivart, representing a 26% stake, for Rs. 1,30,000. This follows a Share Purchase and Shareholders’ Agreement (SPSA) with Tata Power Renewable Energy and its subsidiary TPPL, allowing Tata Steel to acquire this equity stake.

Tata Steel, a flagship company of the Tata Group, is Asia's first integrated steel plant and now ranks as the second most geographically diversified steel producer globally.