Tata Steel share price target, Tata Steel share price today: Shares of Tata Steel hogged the limelight on D-Street on Monday, April 8, after the Tata Group company posted its Q4 FY24 updates on Friday after market hours. The Tata Steel stock rose over two per cent to hit a fresh 52-week high of Rs 166.85, surpassing the earlier peak of Rs 166.3, touched on April 3, 2024, on BSE in morning deals. The stock closed at Rs 165.15, up 1.1 per cent on BSE. 

Tata Steel Q4 updates

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Tata Steel India has reported a 6 per cent growth in deliveries to 19.90 million tonnes in FY24, supported by higher demand from retail, automotive, and railway segments. In India, the company produced 18.85 million tonnes (MT) of steel during the preceding 2022–23 financial year, Tata Steel said in a statement on Friday. Automotive and special products segment deliveries increased by 8 per cent in FY24 to 2.9 MT, surpassing the previous record in FY23.

Branded products and retail segment deliveries increased by 11 per cent in FY24 to 6.5 MT. The industrial products & projects segment deliveries rose 6 per cent to 7.7 MT. Among sub-segments, engineering registered the best-ever annual sales, led by pre-engineered buildings and railways, among others, the company said.

"Revenues from Tata Steel Aashiyana, an e-commerce platform for individual home builders, stood at Rs 2,240 crore in FY24 and were up 30 per cent, driven by best-ever 3Q and 4Q sales," it added.

The company in India produced a record 20.8 MT crude steel in 2023–24, 4 per cent higher than 19.88 MT in the previous fiscal. In 4Q FY24, crude steel production stood at around 5.38 MT against 5.15 MT in Q4 FY23.

Tata Steel Netherlands liquid steel production in FY24 was 4.80 MT, and deliveries were 5.30 MT. In FY23, the output was 6.33 MT, and sales stood at 5.62 MT. Tata Steel UK's liquid steel production in FY24 stood at 3.02 MT, and deliveries were at 2.80 MT. In FY23, the output was 3.02 MT and sales at 2.95 MT.

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(with agency inputs)

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