Tata Steel falls by 6% as their profits falls drastically! Check the details behind it.
On 30/05/2024 , Tata Steel posted its financial results for the FY 23-24 during the market hours . The unsatisfactory results made the investors unhappy which led to fall in the share price significanty to 6% from the previous day’s close.
Tata Steel is having a market capital of Market Cap of ₹ 2,04,976 Crore.
Tata Steel Financials :
The Annual datas are as follows : (Amount in crores)
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Sales + | 84,133 | 129,021 | 129,007 | 140,987 |
| Operating Profit | 27,124 | 51,130 | 27,702 | 29,833 |
| OPM % | 32% | 40% | 21% | 21% |
| Net Profit + | 17,078 | 33,011 | 15,495 | 4,807 |
| Dividend Payout % | 18% | 19% | 28% | 0% |
Percentage Change in the Annual datas are: (Amount in crores)
| Mar 2021 to Mar 2022 | Mar 2022 to Mar 2023 | Mar 2023 to Mar 2024 | |
|---|---|---|---|
| Sales | 53.34% | -0.01% | 9.26% |
| Operating Profit | 88.50% | -45.83% | 7.69% |
| Net Profit | 93.30% | -53.05% | -68.98% |
The steel maker also reported a drop of 64% in its Q4 Net Profits.
TATA steel also did a capital expenditure during the quarter amounting to ₹ 4850 crore and ₹ 18207 crore during the full year.
Their Net Debt amonts to ₹ 77550 crore.
FII,s have also reduced their stake in this stock by 2% than the previous year.
Tata Steel Dividend :
Tata Steel has announced a Final Dividend of Rs. 3.6/- (i.e.360% of Face Value) for the Financial Year 2023-24 . The Record date of the Final Dividend will be June 21, 2024 and the Ex-date will be on August 14, 2024.
Anybody who wants to get the dividend must purchase the shares on/before June 20, 2024 to get themselves resister in the record of the eligible receivers of the dividend.
The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 21/06/2024 and still they will be eligible to receive the dividend as their name would have been registered on 20/06/2024.
It is to be noted that on the record date , the share price of Tata Steel will fall by the dividend amount i.e it will fall by atleast Rs3.6 in the opening session to adjust its price to ex-dividend.
So investors are adviced to make their decision wisely.
Tata Steel Share Price Target 2024 :
Tata Steel’s 52 week high & lows are:
| 52 Wk High | Rs178.00 |
| 52 Wk Low | Rs105.65 |
As per BSE’s data, In today’s trading session , it
| Opened at | Rs172.90 against previous close of Rs174.20 |
| Made High of | Rs172.90 |
| Made Low of | Rs163.40 |
Currently it’s trading near the 0.382 level of Fibonacci as its expected to reverse from that levels . The stock might be volatile for some days due to General Elections , so investors are adviced to take their investment decision accordingly,
READ MORE: IRB Infrastructure shares fell 10% due to BLOCK DEAL. Know the buyers & sellers .
Disclaimer :
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.
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