Why Tata Group Stock Is Rising Today, Gained 5.48% Till Noon Trading

Tata Steel Ltd came into existence in India as Asia's first integrated private steel company in 1907. Tata Steel has established India's first industrial city at Jamshedpur. The company has now emerged as the leading global steel companies.

Today the stock of Tata Steel has gained 5.48% at Rs 101.20 apiece at 11:21 pm in today's trading. The reason for the sharp gain in the prices of the stock is because the shares of Tata Steel are trading ex-split today, a day prior of its record date for the scheduled stock split declared in the ratio of 1:10. Earlier, on July 8 the board of directors of Tata Steel held a meeting for stock split in the ratio of 1:10 and announced July 29, 2022 as the record date.

The market capitalization is Rs 121,924 crore at the time of writing the story. Check key takeaways:

Tata Steel Stock Outlook

The current market price of Tata Steel stock is Rs 101.20 apiece with a gain of 5.48%. The 52-week high of the stock is Rs 153 apiece and 52-week low is 82.70 apiece, respectively. The stock has given a return of 123% in 3 years and 80% in 5 years. In the last three months, it has fallen 21%. The stock has registered strong annual EPS growth.

Tata Steel Record Date For Stock Split

The board of directors of the company has declared the record date and in the BSE filing specified, "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.

CFO Koushik Chatterjee Made A Statement Ahead Of Stock Split

Tata Steel has received "necessary approvals" for its stock-split proposal, company's Executive Director and Chief Financial Officer Koushik Chatterjee said on Monday. Tata Steel had earlier said its board would consider a proposal for sub-division of the equity shares of the company having a face value of Rs 10 each, according to PTI news. "I am happy to report that the 1:10 stock split has received the necessary approvals and the Company has set 29th July, 2022 as the record date to give effect to the split," Chatterjee said in a statement.

About Tata Steel

Tata Steel is among the country's top four steel producers and contributes around 18 per to the total domestic steel production. Tata Steel operates in the sector of metals-ferrous sector. The company top management includes Ratan N Tata, David W Crane, Mallika Srinivasan, O.P. Bhatt etc. Tata Steel's Indian product portfolio is divided into four segments - Automotive and Special Products; Industrial Products, Projects and Exports; Branded Products and Retail; and Services and Solutions. The Company supplies hot-rolled, cold-rolled, galvanised, branded solution offerings and more.