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HomeSTOCKS₹163 TATA Share Got 1,586.39 Crore Contract From Indian Railways; Share Will...

₹163 TATA Share Got 1,586.39 Crore Contract From Indian Railways; Share Will Double?

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Tata Steel Share: The country’s leading steel companies have received steel supply contracts worth Rs 1,586.39 crore from the Railways.

The companies awarded the contract are Tata Steel, Jindal Steel and Power Limited (JSPL), ArcelorMittal Nippon Steel (AM/NS), Steel Authority of India Limited (SAIL), and Jindal Stainless Limited (JSL).

Officials who know that tenders for the purchase of mild/corten steel sheets/plates/coils were invited in July 2023. But it was finalized at the beginning of April itself.

Tenders Were Invited In February

A second tender was opened in February 2024 for the purchase of stainless steel sheets and plates.

However, this, too, was not finalized at that time. Public sector enterprise Steel Authority of India Limited (SAIL) was awarded an important part in the tenders.

SAIL will offer 1.05 lakh tonnes (MT) of steel worth about Rs 671.27 crore, and 16,356 MT in stainless steel valued at the sum of Rs 217.90 crore to Railways.

Sail Got The Biggest Contract

In February 2024, a tender was floated again to purchase stainless steel sheets and plates. It was given to someone at that time. 

The government-owned Steel Authority of India Limited (SAIL) has the largest stake in both tenders.

SAIL will supply 1.05 lakh metric tons (MT) of stainless steel worth Rs 671.27 crore and 16,356 metric tons (MT) of stainless steel worth Rs 217.90 crore.

Tata Steel At Number Two

Tata Steel has received the second-largest order.

Tata Steel will supply 52,753 metric tons (MT) of steel for Rs 333.48 crore. 

With this, railway wagons, coaches, and bridges will be made. Indian Railways recently increased the number of trains to be manufactured in 2025 by 27% to 1500. 

The goal will remain unchanged for two years. Let us tell you that Railways have eight factories across the country. These factories manufacture wheels, axles, locomotives, and coaches.

Fall In Tata Steel Shares

Amid the ongoing decline in the stock market on Friday, a decline in Tata Steel’s shares is also being seen. On Friday morning, Tata Steel shares opened at Rs 166.95 with a rise of Rs 1.80. 

This share fell to Rs 163 during the trading session. However, it recovered later. The share’s 52-week low level is Rs 104.10, and the high level is Rs 169.75. It was expected that the stock would rise after receiving the big order.

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