Tata Steel jumps 7.2% after getting environmental approval for expansion plan

Top official said in a report that Environment Ministry has considered the application based on the recommendations of the Expert Appraisal Committee (Industry-I) and decided to grant environment clearance (EC) to the proposal for expansion of crude steel production at Tata Steel Works.

Mar 03, 2016 11:03 IST India Infoline News Service

Tata Steel
Tata Steel jumped 7.2% to Rs. 286 on BSE. The company has received final environment clearance for its Rs.18.8 bn expansion project to be carried out at Jamshedpur Steel Works in Jharkhand. Top official said in a report that, the Environment Ministry has considered the application based on the recommendations of the Expert Appraisal Committee (Industry-I) and decided to grant environment clearance (EC) to the proposal for expansion of crude steel production at Tata Steel Works.

The scrip opened at Rs. 271.7 and touched a high and low of Rs. 287.7 and Rs. 271.7 respectively. A total of 20064332(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 25946.02 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 384.2 on 06-May-2015 and a 52 week low of Rs. 200 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 269.3 and Rs. 243.4 respectively.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 38.79 % and 29.86 % respectively.

The stock traded below its 200 DMA.

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