Why Tata Steel Stock Fell 4.50% Today?

Tata Steel Limited, a share of the Tata Group, has seen a decline of 4.50% in trading today. Tata Steel was established in India in 1907 as Asia's first integrated private steel company. Along with this it also developed Jamshedpur, India's first industrial city. Today, it is one of the leading global steel companies. It has an annual crude steel capacity of around 20 MnTPA in Indian operations and we recorded a turnover of INR 91,037 crores in FY21.

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 a sharp decline today. Tata Steel Ltd closed 4.50% down at 105.05, JSW Steel closed 3.22% lower at 642, Steel Authority of India fell 4.40% to 78, and Jindal Steel was the highest with 5.19% fell down. 383 to close on each.

Why Tata Steel And Other Leading Steel Stocks Are Falling?

Earlier, the Russo-Ukraine war led to a rise in the prices of major steel stocks. Now steel stock prices are falling as a result of poor demand for steel internally and from China. Last month, these steel stocks gave investors between 8 and 16% returns.

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

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

Tata Steel Return

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

Tata Steel Q1 results

Tata Steel declared consolidated net profit of Rs 7,765 crore for the quarter ended June, down 12.8% over the year-ago period, which the company described as a "challenging" quarter. Sequentially, net profit was down 20.4 percent. Meanwhile, Tata Steel's revenue from operations was recorded at Rs 63,430 crore, up 18.6% year-on-year.

About Tata Steel

The company set up its second greenfield steel plant of 3 MnTPA in the eastern state of Odisha in 2016; Presently 8 MNTPA expansion is going on. It maintains and operates captive mines which helps in maintaining cost-competition and production efficiency through uninterrupted supply of raw materials. Thus ensuring that it remains the lowest cost producer of steel in Asia.