Inventory market right now: Steelmaker Tata Metal’s share value rebounded in commerce on Friday, February 21 to commerce 2.5% larger over its earlier shut following an replace relating to its ₹3,000 crore fundraising plan.
Tata Metal introduced by way of an trade submitting right now that its Committee of Administrators have authorized the allotment of three,00,000 non-convertible debentures (NCDs), having a face worth of ₹1,00,000 every to recognized buyers on a non-public placement foundation for a tenure of 5 years. The blue-chip firm final week mentioned it’ll increase ₹3,000 crore on a non-public placement foundation.
Moreover, the coupon price of the proposed NCDs was found at 7.65% on the idea of the a number of yield allotment methodology by way of the Digital E book Supplier Platform of BSE Restricted on February 20, 2025, as per the submitting. The NCDs are proposed to be listed on the Wholesale Debt Market Section of BSE Restricted.
The credit score scores assigned to the bonds are ‘AAA’ by India Scores and ‘AA+’ by CARE Scores Restricted, as per the trade submitting by Tata Metal.
Lately, India Scores upgraded the bonds of the blue-chip metal firm to the very best grade of AAA from AA with a steady outlook.
Inventory Worth Transfer
Tata Metal share value opened decrease at ₹137.50 versus its earlier shut of ₹138. Nonetheless, the inventory rebounded from the day’s low to hit an intra-day excessive of ₹141.55, translating into an upside of two.5%. From its day’s low, the inventory is up 3.2%.
Even amid the continued turmoil on Dalal Avenue prior to now few months, Tata Motors share have held their floor, with the inventory rising 7% within the final one month as towards a 1% decline within the Nifty 50 index. The inventory is buying and selling flat on a one-year foundation, shedding simply 0.3% throughout this era.
The 52-week excessive for Tata Metal shares stands at ₹184.60, scaled in June 2024, and a 52-week low of 122.60, hit in January 2025.
Learn all market-related information right here
Disclaimer: The views and proposals above are these of particular person analysts or broking corporations, not Mint. We advise buyers to examine with licensed consultants earlier than making any funding choices.
