Tata Steel Ltd (NSE: TATASTEEL) provided an update on Wednesday regarding its merger plans.
The steel subsidiary of Tata Group, Tata Steel, announced that the integration process with the remaining three companies is now in its final stages and is expected to be completed in the first quarter of the upcoming financial year.
In its exchange filing, the steel sector firm stated that the merger of Bhubaneshwar Power, Angul Energy, and India Steel and Wire Products is progressing well and is at an advanced stage. Tata Steel holds a 100 percent stake in Bhubaneshwar Power, along with a 99.99 percent stake in Angul Energy and a 98.15 percent stake in India Steel and Wire Products.
Back in 2022, Tata Steel unveiled its long-term strategy, announcing plans to invest in nine strategic companies as one entity. During this period, the company also expressed intentions to streamline the management of these companies. So far, Tata Steel has completed the merger process of five companies, generating a total revenue of approximately 19,700 crore from 2023 to February 1, 2024.
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The merger with Tata Steel Mining was completed on September 1, 2023, followed by Tata Steel Long Products on November 15, and S&T Mining Company on December 1, 2023. Additionally, the merger processes for Tinplate Company of India on January 15, 2024, and Tata Metaliks on February 1, 2024, were concluded.
However, concerning TRF, Tata Steel announced that the directors of both companies have decided not to proceed with the merger process to completion. This announcement led to a significant surge in TRF shares, with both TRF and Tata Steel surpassing the upper circuit of 20 percent. Tata Steel has been providing financial and operational support to TRF and has witnessed a notable improvement in its business performance.
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About Tata Steel
Tata Steel Ltd is an Indian steel manufacturer with an annual crude steel capacity of approximately 35 million tons. The company primarily focuses on producing and distributing steel-related products globally. It, along with its affiliates, operates across the entire steel manufacturing process, starting from mining and processing coal and iron ore to distributing and manufacturing finished products.
Fundamental Analysis of Tata Steel Ltd:
- Market Cap: ₹ 1,78,822 Cr.
- Current Price: ₹ 144.40
- 52-week High: ₹ 147.40
- 52-week Low: ₹ 101.55
- Stock P/E: 92.6
- Book Value: ₹ 72.5
- Dividend: 2.52%
- Return on Capital Employed (ROCE): 12.6%
- Return on Equity (ROE): 7.28%
- Face Value: ₹ 1.00
- Price-to-Book (P/B) Value: 2.00
- Operating Profit Margin (OPM): 9.70%
- Earnings per Share (EPS): ₹ -2.74
- Debt: ₹ 89,723 Cr.
- Debt to Equity Ratio: 1.01
Tata Steel Ltd Share Price Target 2024 To 2030:
| Year | 1st Target | 2nd Target |
|---|---|---|
| 2024 | ₹ 145 | ₹ 215 |
| 2025 | ₹ 216 | ₹ 305 |
| 2026 | ₹ 314 | ₹ 355 |
| 2027 | ₹ 385 | ₹ 422 |
| 2028 | ₹ 450 | ₹ 519 |
| 2029 | ₹ 550 | ₹ 612 |
| 2030 | ₹ 650 | ₹ 722 |
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