Tata Steel rose 0.60% to Rs 392.45 at 10:15 IST on BSE after the company said it raised 1000 crore through unsecured, redeemable non-convertible debentures.
The announcement was made after market hours yesterday, 4 October 2016.Meanwhile, the BSE Sensex was down 28.38 points, or 0.10%, to 28,306.17.
On BSE, so far 2.04 lakh shares were traded in the counter, compared with average daily volume of 10.09 lakh shares in the past one quarter. The stock hit a high of Rs 396.50 and a low of Rs 391.70 so far during the day. The stock hit a 52-week high of Rs 408.50 on 8 September 2016. The stock hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 October 2016, rising 4.39% compared with 0.69% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.76% as against Sensex's 4.30% rise.
The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.
Tata Steel announced that the committee of directors yesterday, 4 October 2016, allotted 8.15%, unsecured, redeemable non-convertible debentures aggregating to Rs 1000 crore, on a private placement basis, to certain identified investors.
On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016 as against net loss of Rs 316.91 crore in Q1 June 2015. Net sales declined 5.69% to Rs 25155.98 crore in Q1 June 2016 over Q1 June 2015.
Tata Steel is Europe's second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the world's largest steel producers.
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