iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Tata Steel Long rallies ~3% on commencing production at Neelachal Ispat Nigam

4 Oct 2022 , 02:33 PM

Tata Steel Long Products (TSLP) marked a significant milestone by restarting the Blast Furnace at its subsidiary, Neelachal Ispat Nigam Ltd (NINL), barely 90 days after the purchase was completed on July 4, 2022.

The quick restart demonstrates Tata Steel’s dedication to the site, the underlying strength of the existing assets, and the facility’s significance to Tata Steel’s strategy, said the company in its press release.

Tata Steel has announced that it intends to increase its long-products capacity in India in response to predicted increases in demand driven by infrastructure construction, government investment, and retail housing spending.

Tata Steel already has category-leading brands like Tata Tiscon in its portfolio, as well as a large pan-India retail and distribution network. It has announced intentions to invest in the NINL site over the next few years to develop a dedicated 4.5 million tonnes per year state-of-the-art long goods complex.

Given the close proximity to Tata Steel’s current facility in Kalinganagar, considerable synergies in terms of shared infrastructure, resources, and management are possible.

At around 2.36 PM, Tata Steel Long was trading 2.67% higher at Rs618.15, against previous close of Rs602.05 on NSE. So far, the counter hit intraday high and low of Rs622 and Rs610.20 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Neelachal Nigam
  • Tata Steel Long News
  • Tata Steel Long Production
  • Tata Steel Long Stock
  • Tata Steel Long Subsidiary
  • Tata Steel Long Updates
  • Tata Steel Long Volume
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.