Tata Steel increases stake in Medica TS Hospital Private Limited

Tata Steel increases stake in Medica TS Hospital Private Limited

by 5paisa Research Team Last Updated: Dec 14, 2022 - 10:25 pm 41.7k Views
Listen icon

Tata Steel has increased its equity stake in Medica TS Hospital Private Limited (MTSHPL) from 26% to 51%, as stated in its exchange filing on January 08.  

The increase in the stake was on account of the conversion of Optionally Convertible Debentures (OCD) of MTSHPL into Equity Shares and Optionally Convertible Redeemable Preference Shares (OCRPS) respectively.  

MTSHPL is a joint venture company between Tata Steel Limited & Medica Hospitals Private Limited. The company is operating and managing its 100-bed multi-speciality hospital established in Kalinganagar, Odisha to provide health care facilities to the general public. MTSHPL is an integral part of the Kalinganagar operations of the company in Odisha and services the employees and community in the area at large.  

Tata Steel is looking to further grow volumes through a 5 MTPA expansion at Kalinganagar, including downstream cold rolling capacity for the existing 3 MTPA facility at the same site.  

Earlier, Tata Steel also released its Production and Delivery Volumes for Q3 FY 2022 and 9MFY 2022.  

During 9MFY22 Tata Steel India Crude steel production grew by 16% YoY and total deliveries increased by 4% YoY on the back of continued economic recovery. The crude steel production of the India business increased by 4.3% to 4.80 million tons in Q3 FY22 from 4.60 MT in Q3 FY21. Delivery volumes of Tata Steel India fell by 5.2% YoY to 4.41 MT in Q3 Q as an increase in domestic deliveries was offset by lower exports. 

Tata Steel Europe steel production grew by 13% YoY and total deliveries increased by 4% YoY in 9MFY22 while Tata Steel Southeast Asia’s Steel production was similar on a YoY basis with growth in total deliveries by 5%. 

In the past six months, Tata Steel has underperformed vis-a-vis benchmark index, Sensex and also its sector index S&P BSE Metal. In the last six months, Tata Steel has given a negative stock return of -4.3%, whereas the BSE Metal has risen 4.25% and Sensex has given 12.61% returns. 

Today, the shares of Tata Steel closed at Rs 1168 with a gain of 0.66%. 

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Teerth Gopicon IPO Debut with 12.6% Premium Opening at ₹125, Setting a Positive Tone

Teerth Gopicon IPO were floated for ₹125 on the NSE SME platform on April 16, representing a 12.6% premium over the issue price of ₹111.Gains were broadly consistent with the gray market, where the share was trading at ₹127 before of the IPO. The term "grey market" refers to unofficial, over-the-counter trading in securities before they are listed on exchanges.

Jefferies' Prediction for Bharati Hexacom: 'Double Your Money in a Year'

Jefferies is bullish on Bharti Hexacom, a Bharti Airtel group company, citing its strong growth prospects and healthy margin expansion.

Jio Financial Services Up 5% After BlackRock Joint Venture Announcement

Jio Financial Services Ltd witnessed a sharp rise in today's trading session following its announcement of a collaboration with BlackRock, a non-banking financial company (NBFC). The stock surged by 4.90 percent, reaching a day high of ₹371.75.