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.
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.
“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.
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.
