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Tata Steel shares hit new 52-week high following UK joint investment announcement

EditorAmbhini Aishwarya
Published 18/09/2023, 12:20
© Reuters.

Tata Steel Ltd, a leading steel manufacturer, saw its shares ascend to a new 52-week high on the National Stock Exchange (NSE) today, Monday. The shares rose by over 2% to reach Rs 135 each ($1 = INR83.326), surpassing the previous peak of Rs 133.15 achieved last Thursday.

The surge in share prices was prompted by the recent disclosure of a substantial joint investment package between Tata Steel and the United Kingdom. Announced last week, this 1.25 billion-pound (£1 = $1.2396) package includes a significant government grant of 500 million pounds dedicated to the largest steelworks in Wales.

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