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Business News/ News / India/  Tata Steel's plan for first green loan draws attention as its shares climb 1.30%
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Tata Steel's plan for first green loan draws attention as its shares climb 1.30%

The stock has a high beta of 1.3, indicating significant volatility over a one-year period.

Cold rolling mill at Tata Steel in Jamshedpur;Premium
Cold rolling mill at Tata Steel in Jamshedpur;

In the current trading session on the BSE, the stock price of Tata Steel increased by 1.30% to reach 109 compared to the previous day's closing price of 108.90.

The stock has experienced a lot of fluctuations over the past six months. 

A total of 3.85 lakh shares were traded, resulting in a turnover of 4.17 crore. The market capitalization of the Tata Group company was 1.33 lakh crore.

Furthermore, Tata Steel's technical indicators show that its relative strength index (RSI) is at 54.8, suggesting that it is not currently in an overbought or oversold state.

The stock has a high beta of 1.3, indicating significant volatility over a one-year period.

Although the stock is trading above the 5-day, 20-day, 50-day, and 200-day moving averages, it is below the 100-day moving average.

Meanwhile, Bloomberg reported that Tata Steel Ltd. is in talks to raise as much as $400 million, according to people familiar with the matter, in what could become the company’s first green loan.

The debt could have a tenor of about five years and the proceeds would be used for capital expenditure, said the people, who declined to be named because the matter is private.

The lenders include Bank of America Corp., HSBC Holdings Plc, JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group Inc.

Tata Steel recorded a net loss of 2,502 crore in the third quarter of the previous fiscal year due to increased expenses, compared to a net profit of 9,598 crore in the same period the previous year. The company's Q3FY23 revenue from operations decreased by 6% to 57,084 crore from 60,783 crore in Q3FY22.

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Updated: 19 Apr 2023, 12:16 PM IST
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