Tata Steel BSL achieves the highest ever quarterly deliveries

Tata Steel BSL Limited has announced the Key Production and delivery volumes (Provisional) for 2QFY21.

During 2QFY21, global economic activity has started to recover with phased relaxations in lockdown measures, however, the pace of improvement has been varying across the geographies. Tata Steel BSL continues to closely monitor the situation and take appropriate actions in line with the directions issued by the regulatory authorities keeping in view the health and safety of its employees and the community and the interests of its customers and other stakeholders. We also continue to stay focused on aggressively managing costs and cashflows.

In India, in 2QFY21, overall apparent steel consumption was down by 7.5%YoY while crude steel production was down by 1.9%YoY. In this environment, we have successfully ramped up capacity utilization of our steelmaking and downstream facilities back to pre-Covid levels. We increased our crude steel production volume by 73%QoQ and 7%YoY to 1.14 mn tons in 2QFY21.

We achieved the highest ever quarterly deliveries of 1.28 mn tons in 2QFY21 which translates to 83%QoQ and 23%YoY growth. We reduced exports to 31% of overall deliveries in 2QFY21 and sharply ramped up domestic deliveries to 0.88 mn tons which translates to an increase of 150%QoQ and 11%YoY.

Shares of Tata Steel Bsl Ltd was last trading in BSE at Rs.21.8 as compared to the previous close of Rs. 21.65. The total number of shares traded during the day was 147695 in over 228 trades.

The stock hit an intraday high of Rs. 22.8 and intraday low of 21.8. The net turnover during the day was Rs. 3304210.

Source : Equity Bulls

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