23-05-2025
Tata Steel shares in focus after company unveils Rs 27,000-crore Kalinganagar expansion, boosts capacity to 8MT
Tata Steel shares will be in focus on Friday after the company launched the second phase of its Kalinganagar plant in Odisha, increasing its annual crude steel capacity from 3 million tonnes (MT) to 8MT with an investment of Rs 27,000 crore. With this move, Odisha has become Tata Steel's largest investment destination.
ADVERTISEMENT Located in Jajpur district, the expanded facility will produce advanced high-strength steel for sectors such as automotive, infrastructure, power, shipbuilding, and defence.
Tata Steel CEO & MD T.V. Narendran said, "Kalinganagar is more than a manufacturing site for us. It symbolises what is possible when communities, government, and industry work together. This expansion reflects our deep belief in Odisha's potential and our long-term commitment to this state."
Earlier this month, Tata Steel reported a consolidated net profit of Rs 1,201 crore for the quarter ended March 2025, beating Street estimates of Rs 1,062 crore. Revenue from operations came in at Rs 56,218 crore, down 4.2% from Rs 58,687 crore in the same quarter last year, but up 5% sequentially from Rs 53,648 crore in for the quarter came in at Rs 6,762 crore, up from Rs 6,631 crore in Q4FY24 and Rs 5,994 crore in Q3FY25. However, adjusted EBITDA per tonne fell to Rs 7,810, compared to Rs 9,263 in Q3FY25 and Rs 8,735 in Steel also announced plans to invest up to $2.5 billion in its Singapore-based subsidiary, T Steel Holdings Pte Ltd, as part of its ongoing international strategic initiatives.
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According to Trendlyne, the average target price for Tata Steel is Rs 161. Out of 30 analysts covering the stock, the consensus rating is 'Buy'.
ADVERTISEMENT Tata Steel shares closed at Rs 161.20 on Thursday, down 0.22% on the BSE. The stock is up 18% year-to-date and has gained 54% over the past two years. Its current market capitalisation stands at Rs 2,01,295 crore.
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