Tata Steel share price hit fresh 52 week high today after the company achieved

its highest-ever quarterly crude steel production of 4.75 million tonnes. The
rally in the Tata Group stock was also backed by a ratings upgrade by S&P
Global Ratings.
Share of Tata Steel rose 2.55% to Rs 884.85 against previous close of Rs
862.85 on BSE. Tata Steel share is trading higher than 5 day, 20 day, 50 day,
100 day and 200 day moving averages. Tata Steel share has risen 217% in one
year and gained 36.03% since the beginning of this year.
In a month, the stock has gained 19.38%. Market cap of the firm rose to Rs
1.05 lakh crore.
The steel manufacturer clocked its highest-ever quarterly crude steel
production of 4.75 million tonnes with a 3 percent QoQ growth in Q4FY21.
Full-year FY21 production was lower by 7 percent YoY primarily due to the
disruption caused by the COVID-19 pandemic in 1HFY21, said the company.
During the quarter, steel production at Tata Steel Europe increased to 2.65
million tonnes and steel sales volume rose by 18 percent QoQ and 4 percent
YoY, it added.
Meanwhile, S&P Global Ratings said Tata Steel was on track to trim part of its
$15 billion debt in the next two years helped by higher prices and strong cash
flows, leading to a ratings