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

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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.

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"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.

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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.

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