Tata Steel BSL zooms on the bourses

Tata Steel BSL is currently trading at Rs. 85.00, up by 1.10 points or 1.31% from its previous closing of Rs. 83.90 on the BSE.

The scrip opened at Rs. 85.80 and has touched a high and low of Rs. 85.80 and Rs. 84.00 respectively. So far 118578 shares were traded on the counter.

The BSE group ‘T ‘ stock of face value Rs. 2 has touched a 52 week high of Rs. 109.60 on 11-May-2021 and a 52 week low of Rs. 21.30 on 12-Oct-2020.

Last one week high and low of the scrip stood at Rs. 87.40 and Rs. 82.50 respectively. The current market cap of the company is Rs. 9288.76 crore.

The promoters holding in the company stood at 72.65%, while Institutions and Non-Institutions held 5.33% and 22.02% respectively.

Tata Steel BSL’s production stood at 1,195 thousand tons in Q2FY22 (Provisional) as compared to 1,171 thousand tons in Q1FY22 and 1,140 thousand tons in Q2FY21. The sales was at 1,108 thousand tons in Q2FY22 (Provisional) as against 1,119 thousand tons in Q1FY22 and 1,274 thousand tons in Q2FY21. Tata Steel BSL achieved highest ever Crude Steel production in Q2FY22, registering a growth of 2% Quarter on quarter (QoQ) and 5% Year on Year (YoY).

Q2FY22 Steel sales volume was marginally lower on QoQ basis due to lower availability of Hot Rolled products with planned shutdown of Hot Strip Mill. Steel sales volume was lower by 13%YoY due to lower exports and stock liquidation focus in the previous year. The Company launched ‘Tata Steelium Super’ which will enhance Company’s presence in the retail segment.

Tata Steel BSL formerly known as Bhushan Steel is the largest manufacturer of auto-grade steel in India. Tata Steel BSL with a large amount of debt in proportion to its equity is a highly leveraged company.

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