Tata Group Steel Industry: Tata Group invested 27,000 crores, shares became rocket, know the details…

Tata Group Steel Industry: Tata Steel announced an investment of Rs 27,000 crore to expand crude steel capacity from 3 MTPA to 8 MTPA at Kalinagar in Odisha. With this, the shares of Tata Steel Limited rose by 1.71% today, taking its total value to Rs 152.10.

With this investment, Kalinagar has become the largest investment site of Tata Steel in India. The new blast furnace will increase the production capacity of the plant and meet the demand of industries like automotive, infrastructure, power, shipbuilding and defense.

The new blast furnace will have a capacity of 5,870 cubic metres and is designed to be long-lasting and environmentally friendly. It will use four top combustion stoves which is a first in India as well as two preheating stoves that will optimise fuel consumption in hot metal production.

Tata Steel CEO and Managing Director TV Narendran inaugurated the new facility. He said, “The commissioning of India’s largest blast furnace is a momentous occasion for the steel industry, which will set new benchmarks in capacity, technology and sustainability.

With this expansion, Odisha has become the largest investment destination for Tata Steel in India, with total investments in the last 10 years exceeding Rs 1,00,000 crore. The new plant has a dry gas cleaning plant installed to maximize energy recovery.

In addition, the world's largest top gas recovery turbine (TRT) with a power generation capacity of 35 MW will also be included in the process. Other important facilities in the second phase expansion of the Kalinagar plant include a pellet plant, coke plant and cold rolling mill, all of which adopt advanced technologies and sustainable practices.

Stocks surge

Shares of Tata Steel Limited rose by Rs 2.56 today, taking its total price to Rs 152.10. This increase was 1.71%, while the share price was Rs 153.05 when the market opened this morning.

Tata Steel shares touched a low of Rs 150.65 and a high of Rs 153.34 during the day. The company's market cap is currently Rs 1.90 lakh crore. Tata Steel's 52-week high was Rs 184.60 and the lowest was Rs 114.60. The dividend yield of this company is 2.37%.