09 Jul , 2022 By : Kanchan Joshi
With a market cap of Rs108,228 crore, Tata Steel Ltd. is a large-cap corporation that operates in the ferrous metals segment of the country. One of the most globally varied steel companies in the world is Tata Steel, with a 34 million tonnes per year (MnTPA) annual capacity for producing crude steel. For the purpose of the stock split, the Board of the company has announced a record day today.
In a BSE filing, Tata Steel has said “In terms of Regulation 42 (2) of the SEBI Listing Regulations, the Company has fixed Friday, July 29, 2022 as the ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the purpose of sub-division /split of every one fully paid-up Ordinary (equity) share having face value Rs. 10/- (Rupees Ten only) each in the share capital of the Company, into ten (10) fully paid-up Ordinary (equity) shares having face value Re. 1/- (Rupee One only) each, as approved by the shareholders at the 115th Annual General Meeting of the Company held on June 28, 2022."
Tata Steel's stock dropped 1.64 per cent from its previous close of Rs900 and settled at Rs885.25. The stock has fallen 28.57 per cent over the last year, and so far in 2022, it has dropped 22.51 per cent on a year-to-date (YTD) basis. The stock has dropped 24.28 per cent over the past six months, and 15.27 per cent over the past month. The stock, however, has gained 3.45 per cent over the last five trading days and reached an intraday high of Rs919 (2.08 per cent) and an intraday low of Rs880.5. (-2.2 percent) in trade today. The stock's 52-week high on the NSE was 1,534.50 on August 16, 2021, and its 52-week low was Rs827 on June 23, 2022. Tata Steel shares are trading at rs885.25, which is 42.31 per cent below the 52-week high and 7.04 per cent above the 52-week low. The stock is trading above the 5-day moving averages but below the 20-day, 50-day, 100-day, and 200-day moving averages based on today’s closing price.
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