Tata Group Stock Gains 3%: Metals Surge - Know the Reason Why
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Tata Steel shares jumped 3 per cent amid a metals rally, boosted by falling oil prices and the commissioning of its eco-friendly Electric Arc Furnace at Ludhiana
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Nifty Metal Index is showing strong momentum today, up about 1.10 per cent, making it one of the better-performing sectors. It is trading strongly today at 11,373.30, up 123.95 points or 1.10 per cent higher from the previous close of 11,249.35. It touched a high of 11,583.20 and a low of 11,291.35, staying close to the upper range.
The key trigger for the rally was the fall in crude oil prices today. Oil prices cooled to USD 108 per barrel from around USD 120 per barrel after major European nations and Japan offered support to ensure safe shipping through the Strait of Hormuz. At the same time, the US announced steps to boost oil supply.
Additionally, steel stocks rallied on improving spreads, expectations of strong domestic demand, and supportive global cues, which continued to lift sentiment in the sector.
Adding to the positive momentum, Tata Steel today marked a historic milestone in the Company’s journey toward sustainable steelmaking. It introduced a scrap-based Electric Arc Furnace (EAF) facility at Hi-Tech Valley, Ludhiana, built with an investment of around Rs 3,200 crore. The plant has a capacity of 0.75 million tonnes per annum and is designed to emit less than 0.3 tonnes of CO₂ per tonne of steel. This development marks a significant step toward the company’s goal of achieving Net Zero emissions by 2045.
As per Natarajan Chandrasekaran, Chairman of Tata Steel:
“As India accelerates its transition towards a climate-resilient future, sustainability has become a national imperative - one that demands urgent, collective action. Tata Steel’s Ludhiana Electric Arc Furnace reflects Tata Group’s long-term commitment to building a greener, more resilient industrial future.”
Tata Steel was established in India in 1907 as Asia’s first integrated private steel company. Today, it is one of the leading global steel producers, with an annual crude steel capacity of over 35 million tonnes. The company operates across multiple geographies and has a strong international presence. It is also one of the few steelmakers with fully integrated operations, covering everything from mining to the manufacturing and marketing of finished products.
Tata Steel Ltd Share Price Performance
Following these developments, as of 15:10 IST, Tata Steel’s share price rose by 3.48 per cent to Rs 197.14. On the same day, the share opened at Rs 193.40, touched a high of Rs 199.44 and a low of Rs 193.34, before settling at Rs 197.14, up from the previous close of Rs 190.51.
Year-to-date, the share has gained 8.38 per cent, while over the past year, it has risen by 23.96 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.