Shares of Tata Steel declined marginally by 0.05% to ₹173.72 on the NSE Monday morning following the release of the draft National Steel Policy Vision 2047. The policy sets ambitious goals, targeting a crude steel production capacity of 604 million tonnes, per capita consumption of 302 kg, and exports of 45 million tonnes by 2047, roughly doubling the targets of the 2017 policy, according to thehindubusinessline.com.
The stock opened higher at ₹174.80 and touched an intraday high of ₹177.25 before paring gains as sell orders outweighed buys, with 63.56% of the order book on the sell side. Traded volume reached 186.42 lakh shares worth ₹326.77 crore. The draft policy was released over the weekend for stakeholder consultation and emphasizes high-value steel production, technological upgrades, raw-material security, and environmentally sustainable operations, areas aligned with Tata Steel’s business priorities, thehindubusinessline.com reported.
The draft National Steel Policy Vision 2047 aims to significantly boost India’s steel sector by doubling production capacity and exports compared to the 2017 policy. It also focuses on improving per capita steel consumption, which is crucial for infrastructure and manufacturing growth. The emphasis on raw-material security and sustainability reflects global trends in steel production and aligns with Tata Steel’s strategic priorities, highlighting the sector’s evolving landscape in India, per thehindubusinessline.com.
Tata Steel’s stock performance and the draft policy’s release underscore the sector’s importance in India’s industrial strategy. The policy’s consultation phase will gather feedback from stakeholders before finalization, marking a key step in shaping India’s steel industry trajectory through 2047, thehindubusinessline.com noted.