Tata Steel share price hits 52-week high after Q4 update: Will it rise more? - Hindustan Times
close_game
close_game

Tata Steel share price hits 52-week high after Q4 update: Will it rise more?

Apr 08, 2024 11:47 AM IST

Tata Steel share price: Tata Steel reported its Q4 FY24 updates which showed a 6 per cent growth in deliveries to 19.90 million tonnes in FY24.

Tata Steel share price: Shares of Tata Steel rose over 2 per cent to hit a fresh 52-week high 166.85, surpassing the earlier peak of 166.3 touched on April 3. This comes after the Tata Group company reported its Q4 FY24 updates which showed a 6 per cent growth in deliveries to 19.90 million tonnes in FY24, flanked by higher demand from retail, automotive and railway segments.

Tata Steel share price: Automotive and special products segment deliveries increased by 8 per cent in FY24, the company said. (Bloomberg)
Tata Steel share price: Automotive and special products segment deliveries increased by 8 per cent in FY24, the company said. (Bloomberg)

Read more: Adani Ports share price 2% lower, 913-crore equities change hands: What's happening

The company produced 18.85 million tonnes (MT) of steel during the preceding 2022–23 financial year, Tata Steel said in a statement while automotive and special products segment deliveries increased by 8 per cent in FY24.

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

Read more: Gold prices at fresh record high of 71,000, silver hits new peak: Check latest rates

"Revenues from Tata Steel Aashiyana, an e-commerce platform for individual home builders, stood at 2,240 crore in FY24 and were up 30 per cent, driven by best-ever 3Q and 4Q sales," it said.

Read more: Paytm's Vijay Shekhar Sharma shares he used ChatGPT to know more about this, netizens mock post

In the last one year, shares of Tata Steel gave a return of over 55 per cent against Nifty50's rise of almost 28 per cent.

Tell us what your First Vote will stand for in a short video & get a chance to be featured on HT’s social media handles. Click here to know more!

Get Current Updates on India News, Elections 2024,, Election 2024 Date along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Saturday, May 18, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On