Tata Steel shares price surged over 3% today, February 12, making it the top gainer among index heavyweights. The stock was trading at Rs 136.82 per share, up 3.46% in intraday trading.
From the BSE Metal Index, Tata Steel is one of the top-performing metal stocks today, followed by SAIL and Jindal Steel. The sector is in focus amid global trade developments, with reports of the US planning a flat 25% tariff.
With a market capitalisation of Rs 1.71 lakh crore, Tata Steel has seen a 52-week high of Rs 184.60 and a low of ₹122.62. The current price remains 25.9% below its peak and 11.6% above its lowest point in the past year.
Tapping the bond market
According to a Reuters report citing sources, Tata Steel is preparing to re-enter the corporate bond market after nearly a year.
“The company is already in talks with merchant bankers and investors, and is offering a variety of tenors, and would finalise one or two of those, based on levels that they get,” a source told Reuters.
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The report further suggested that the steel marker is looking to secure around Rs 3,000 crore through this bond issuance, with the process likely to be wrapped up by the end of February.
Credit rating
Furthermore, Tata Steel recently secured a rating upgrade from India Ratings, a Fitch Group entity. In an exchange filing on February 11, the company said, “India Ratings (a Fitch Group company) has upgraded the debt instrument rating of Tata Steel Limited from ‘AA+’ Positive to ‘AAA’ Stable.”
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