Tata Iron and Steel Company Limited or popularly known as TISCO is the world’s sixth largest steel company, established by a humble Parsi business man in1907. Tata steel had achieved many benchmarks and milestones in production and employee beneficial schemes. According to Fortune global 500 lists ranking at 315th position and proud production of 31 million MT crude steel productions annually in India and 52.32 million tons overseas, it is the second largest private sector steel company in India in domestic production ad fifth largest giant in world. Tata Steel introduced 8-hour work shift in 1912, introduced leave-with-pay and Provident scheme in 1920, a practice that became legally binding all employers in India only in 1945 Similarly, Provident Fund Act only in 1952, in other words Tata steel lay foundation to basic beneficial schemes for all employees. In return Tata steel is the only company holding a record non-disrupted furnace since its establishment. Tata Steel produced a record-breaking 10.32 million tons of salable steel in its Jamshedpur works in 2010. The company’s gross revenue in that financial reporting year was Rs. 20196.24 Cr.
In a short term ambitious plan Tata steel has set motion to achieve target 100 million tons. Managing Director of company had stated that Tata Steel is planning a 50-50 balance between green field facilities and overseas acquisitions to reach the desired result. In 2005 company recognized as the world’s best steel producer by World Steel Dynamics. Tata steel is home for more than 84700 qualified work force. In Long term plan Tata Steel, collaborated joint venture with Tata BlueScope Steel Limited, and entered the steel building and construction applications market. To increase the production capacity to all their units also include in long term plans.
Tata steel had made a huge difference in steel market diversification through its innovative approach, team work, nurturing new talent, delivering quality products, developing end to end solution for steel industry, safe working environment and safe guarding community welfare over a century now. Here is a free stock market tip for you; joint ventures product analysis and production capacity increase will fuel the rate of shares, so buy some more and stop selling.
Hold Tata Steel with targets of Rs 565 and 590 on crossing its resistance of Rs 540 and keep stop loss of Rs 520, says Mileen Vasudeo, technical analyst, on NDTV Profit. The stock is currently trading at Rs 533, down 0.03% on the BSE.
Buy Tata Steel at Rs 530 with targets of Rs 544 and 560 and stop loss of Rs 525, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 530.70, down 0.4% on the BSE.