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Prices as of 8 Oct 2026 close · Not investment advice

Tata Steel

NSE: TATASTEELIron & Steel

Share price

₹171.96

-2.10% close of 8 Oct 2026

Market cap ₹2.14L CrP/E 18.1

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 8 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

57

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹2.14L Cr

P/E ratio

18.1

P/B ratio

2.1

ROCE

12.5%

ROE

11.7%

Dividend yield

2.3%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹221.1352-week low ₹160.67

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Jun 2007 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Jun 2007 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 18.1× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 17.7×, across 5 companies. It is against its own five-year median of 19.4×, the 48th percentile of its own range.

Whether growth justifies the valuation

Priced at 1.8 times its growth rate, on earnings growth of 10%.

Profit growthPrice per ₹1 profitPer 1% growth
Tata Steel — this one10%/yr18.1×₹1.8
JSW Steel35%/yr23.9×₹0.68
JINDAL STEEL LIMITED1%/yr33.4×₹33.4
Steel Authority of India26%/yr14.2×₹0.55
Jindal Stainless Limited15%/yr17.7×₹1.2
Sarda Energy & Minerals Limited20%/yr15.3×₹0.77

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Iron & Steel), it ranks 5 of 13 on returns, 8 of 11 on growth, 6 of 13 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 12.5% on capital, ahead of 62% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹144567 crore of cash from the business, spent ₹69603 crore on plant and equipment, and returned ₹69868 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 319 arrived as cash — well above the profit, more than depreciation and interest account for, so do not count on it repeating. Its cash comes back faster than it used to: it went from being paid 34 days before it paid its own suppliers to paid 56 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Steel prices in India rose Rs 5,990 a tonne against the Rs 6,000 management guided

Announced 30 Jul 2026 · Consolidated

Revenue

₹60,794 Cr

Revenue vs last year

+14.3%

Revenue vs last quarter

-3.9%

Net profit

₹2,385 Cr

Profit vs last year

+18.8%

Profit vs last quarter

-19.6%

Net margin

3.9%

EPS

₹1.86

Earnings call transcript · 30 Jul 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹2.14L Cr
Prev close
₹171.96
52w High
₹224
52w Low
₹160
Enterprise value
₹2.96L Cr
Beta
1.2
Price CAGR 1y
2.0%
Price CAGR 3y
12.0%
Price CAGR 5y
6.0%
Price CAGR 10y
16.0%

Ratios

Return on assets
3.7%
PEG ratio
1.8
P/E ratio
18.1
P/B ratio
2.1
EV / EBITDA
8.2
Industry P/E
16.5
ROCE
12.5%
ROCE 5y average
14.6%
ROE
11.7%
Debt / Equity
0.9
Interest coverage
3.2
Dividend yield
2.3%
ROE 3y average
7.0%
ROE last year
12.0%

Annual P&L

Annual revenue
₹2.32L Cr
Annual profit
₹10,886 Cr
Operating margin
15.0%
Net profit margin
4.7%
EBITDA margin
14.8%
Sales growth 3y
-1.6%
Sales growth 5y
8.2%
Profit growth 3y
10.0%
Profit growth 5y
8.0%
EPS
₹8.7
Sales growth TTM
11.0%
Profit growth TTM
147.0%
Dividend payout
46.0%

Quarter P&L

Sales latest quarter
₹60,794 Cr
Profit latest quarter
₹2,385 Cr
YoY quarterly sales growth
14.3%
YoY quarterly profit growth
18.8%
OPM latest quarter
15.2%

Balance Sheet

Book Value
₹81.9
Face Value
₹1.0
Total debt
₹92,382 Cr
Total cash
₹10,058 Cr
Borrowings
₹92,382 Cr
Reserves / Equity
80.9

Cash Flow

Operating cash flow
₹35,064 Cr
Free cash flow
₹21,368 Cr
FCF yield
6.6%
Net cash flow
-₹720 Cr

Shareholding

Promoter holding
32.9%
FII holding
18.9%
DII holding
26.4%
Public holding
21.5%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
JSW Steel1,230.0025.03,00,9340.584,696.0113.047,364.09.811.0
Tata Steel175.6418.52,19,3712.282,385.216.860,794.314.312.5
Jindal Steel1,061.0035.11,08,3210.19843.8-43.515,482.125.99.7
S A I L174.3114.871,7371.351,644.1134.326,245.71.37.9
Jindal Stain.732.1518.460,4120.55768.77.711,278.510.519.3
Sarda Energy499.3515.717,5980.40478.15.51,608.0-1.516.9
NMDC Steel40.55142.011,8810.0050.597.63,661.88.83.1
Median146.3118.411,6980.24174.432.72,672.212.79.7

Competes with: JINDAL STEEL LIMITED, JSW Steel, Jai Balaji Industries Limited, Jindal Stainless Limited, Manaksia Steels Limited, Mukand Limited, NMDC Steel Limited, Prakash Industries Limited, Sandur Manganese & Iron Ores Limited, Sarda Energy & Minerals Limited, Scan Steels Limited, Steel Authority of India, Vedanta Iron and Steel Limited, Vedanta Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales59,49055,68255,31258,68754,77153,90553,64856,21853,17858,68957,00263,27060,794
Expenses54,58751,41449,04852,08748,07747,78947,74549,65945,75149,79348,80353,44151,530
Material Cost16,84718,02817,85918,91719,66520,186
Change in Inventories2,719-1,398979-5451,953-2,414
Purchases of Stock-in-Trade5,1393,9485,5884,0704,5535,182
Employee Cost6,0236,5996,3496,3536,6987,226
Other Expenses18,93218,57319,01820,00820,57221,350
Operating Profit4,9034,2686,2646,6016,6946,1165,9036,5597,4288,8978,2009,8299,264
OPM %8.247.661111121111121415141615
Other Income1,190-6,568-33-382-6617142149236-646542-17
Exceptional items (within Other Income)-389-132-420-140-340-345
Interest1,8251,9591,8811,8421,7771,9711,8041,7891,8521,7751,7471,7921,771
Depreciation2,4122,4802,4222,5682,5352,5972,5692,7202,7442,8933,0493,2683,640
Profit before tax1,855-6,7391,9281,8092,3772,1641,6722,2003,0674,2223,8694,8103,838
Tax %72-37369616582453525293838
Net Profit525-6,5115225559197592951,2012,0073,1832,7302,9652,385
EPS in Rs0.52-5.070.420.490.770.670.261.041.662.482.152.341.86
Diluted EPS in Rs1.041.672.492.162.341.86

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,39,5041,01,9651,12,2991,23,2491,57,6691,39,8171,56,4772,43,9592,43,3532,29,1712,18,5432,32,1402,39,756
Expenses1,36,0951,02,59099,1561,01,8161,28,3511,22,3541,25,9731,80,4692,11,0532,06,9231,93,2441,97,7882,03,567
Material Cost77,08074,469
Change in Inventories-97990
Purchases of Stock-in-Trade18,01818,159
Employee Cost24,88925,999
Other Expenses73,35478,171
Operating Profit3,409-62513,14421,43329,31817,46330,50463,49032,30022,24825,29834,35236,189
OPM %2.40-0.601217191219261310121515
Other Income5,99410,346-3,78910,8981,524-2,8841801,3001,569-6,005877738485
Exceptional items (within Other Income)-855-1,032
Interest4,8484,2215,0725,4557,6607,5337,6075,4626,2997,5087,3417,1677,085
Depreciation5,9445,3065,6735,7427,3428,4419,2349,1019,3359,88210,42111,95512,850
Profit before tax-1,388193-1,39121,13515,841-1,39513,84450,22718,235-1,1478,41315,96916,739
Tax %1853582001642-1844117563286232
Net Profit-3,939-497-4,16917,7439,1221,1748,19041,7498,075-4,9103,17410,88611,264
EPS in Rs-3.48-0.34-3.76129.071.386.26337.17-3.552.748.658.83
Diluted EPS in Rs2.748.65
Dividend Payout %-20-203-2391574401650-10113146

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
9%
5 years
8%
3 years
-2%
TTM
11%

Compounded profit growth

10 years
24%
5 years
8%
3 years
10%
TTM
147%

Stock price CAGR

10 years
16%
5 years
6%
3 years
12%
1 year
2%

Return on equity

10 years
12%
5 years
14%
3 years
7%
Last year
12%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9719709701,1451,1451,1451,1981,2211,2211,2471,2471,247
Reserves30,37842,76236,84959,72667,78072,43173,0411,13,2221,01,86190,78889,9221,00,920
Borrowings80,70181,98783,01492,1471,00,8161,16,32888,50175,56184,89387,08294,80192,382
Other Liabilities47,05951,16551,61455,70463,03259,24581,16992,41797,42190,19589,4881,01,965
Minority Interest1831,613
Total Liabilities1,59,1091,76,8841,72,4472,08,7222,32,7732,49,1492,43,9092,82,4222,85,3962,69,3122,75,4592,96,515
Fixed Assets68,10072,20092,00796,1051,24,4421,34,5511,35,7751,33,2881,46,6211,48,8141,50,9141,79,908
CWIP28,67835,99615,78416,61418,64119,49719,00722,04631,21334,35641,62228,497
Investments3,45510,71412,45717,8995,7386,28510,68213,1408,4106,2586,1947,089
Other Assets58,87657,97452,20078,10383,95288,81678,4451,13,94899,15179,88576,72881,021
Total Assets1,59,1091,76,8841,72,4472,08,7222,32,7732,49,1492,43,9092,82,4222,85,3962,69,3122,75,4592,96,515

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity11,88011,45510,8248,02325,33620,16944,32744,38121,68320,30123,13835,064
Cash from Investing Activity-9,021-8,794-9,490-11,730-29,176-14,012-9,437-10,905-18,179-14,253-13,611-14,397
Cash from Financing Activity-2,617-4,729-2,5796,640-673-1,695-37,090-23,401-6,981-11,097-7,002-21,387
Net Cash Flow241-2,068-1,2452,933-4,5134,462-2,20010,075-3,477-5,0492,524-720
Free Cash Flow-1691,5233,39772416,71210,15637,79334,4287,8682,5698,73121,368

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3543383727212218121098
Inventory Days165180230224190197215213175176171184
Days Payable126167172161130136167161122108113136
Cash Conversion Cycle745696998782697166786756
Working Capital Days-6-47-32-31-18-38-55-34-42-59-50-56
ROCE %116121461231137913

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters343433333333333333333333
FIIs202020201919181717171919
DIIs222324232324242627272726
Government0.160.160.160.180.180.180.180.180.180.180.180.18
Public232324242525242322222122
No. of Shareholders38,04,72839,92,60947,17,44252,69,35459,87,13961,59,77960,25,70958,23,94255,05,58153,59,97152,21,33851,79,576

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -2.5% (₹176.42 → ₹171.96)Brick size ₹4.77 (fixed)Bricks 38
₹160₹180₹200₹220₹172Nov '25Jan '26Mar '26May '26Jul '26
Price moved up one brickPrice moved down one brickLast close ₹171.96 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

total loans / revolving facilities outstanding at period end, the base of loan_default_cr

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

81,320inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,24,45,905inr

2026-03-31

News

News and filings about Tata Steel. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Dolomite
  • Limestone
  • Steel Scrap

Depends on the price of

  • Coking Coal
  • Iron Ore
  • steel

Products sold by

sources raw material from

Buys from

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Metals & Mining
Industry
Iron & Steel
Classification
Metals & Mining › Iron & Steel
ISIN
INE081A01020

Business segments

  • Tata Steel India · 60%
  • Tata Steel Netherlands Operations · 26%
  • Other Trade Related Operations · 17%
  • Tata Steel UK Operations · 10%
  • Other Indian Operations · 6%
  • South East Asian Operations · 4%
  • Neelachal Ispat Nigam Limited · 2%
  • Rest of the World · 1%
  • Inter Segment Eliminations · -26%

Plants

  • Jamshedpur Works · Jamshedpur, Jharkhand
  • Kalinganagar Works · Jajpur, Odisha
  • Meramandali Works
  • Tata Steel Gamharia · Gamharia, Jharkhand

News impact

Big market events that reach Tata Steel, and how the effect spreads.

1 Oct, 22:37 IST · Market event · medium impact

Tata Steel receives tribunal approval for subsidiary merger

Tata Steel won tribunal approval to merge its subsidiaries into itself, trimming costs and simplifying the group for its shareholders, with no effect on rival steelmakers.

Metals & Mining

Who it hits first

  • Tata Steel, one of India's biggest steelmakers, won tribunal approval to merge its subsidiaries into itself.
  • The cleanup cuts duplicate costs and paperwork and pools cash across the group, but adds no steel output or customers.
  • Rival steelmakers, steel buyers and raw-material suppliers feel no direct change from this internal reshuffle.

Who may gain

  • Tata Steel (steelmaker): lower overheads and simpler accounts once the merger completes.
  • Tata Steel shareholders: a leaner group structure that can lift earnings per share over time.

Along the supply chain

Downstream

Downstream, car, truck and construction buyers of Tata Steel pay the same prices, as steel supply is unchanged.

Upstream

Upstream, miners and equipment suppliers to Tata Steel see no order change, since the merger adds no furnace or mine.

Where demand moves

Business

No new steel demand is created: the same mills, customers and volumes, just owned more simply, so business demand flow is flat.

Capital

Investors may pay a small premium for a simpler Tata Steel with lower costs, but no fresh money flows to rivals or suppliers.

How it spreads across sectors

Automobile and Auto Components

No link: vehicle makers buying Tata steel see no price or supply change.

Capital Goods

No link: equipment suppliers to steel plants gain no new orders from paperwork.

Metals & Mining

Neutral: an internal Tata cleanup moves no steel price, volume or input cost for peers.

When it plays out

Immediate

In the first week, expect a mild positive drift in Tata Steel shares on the cleared overhang, with peers unmoved.

Medium term

Over one to six months, actual cost savings and cleaner accounts decide whether the market rewards the simpler structure.

Short term

Over the next few weeks, watch for the merger record date and share-swap details that set the final terms.

Who it hits first

  • Steel Authority of India, the government-owned steelmaker, test-flew a small load of coking coal (the special coal that fuels blast furnaces) from Mongolia to try a new source beyond Australia.
  • The test is a first trial only, so it lowers worry about supply shocks but does not cut costs or raise steel output yet.
  • Rival steelmakers such as Tata Steel and JSW Steel, both large steelmakers, get no coal from this flight, only proof that a Mongolia route can work.

Who may gain

  • Steel Authority of India, the steelmaker running the trial, gains a little supply safety and positive attention.
  • Other steelmakers that burn imported coking coal, like Tata Steel, JSW Steel and Jindal Steel, get a faint hope that Mongolia could one day serve them too.
  • Mongolian coal miners gain a possible future buyer in India, though one airlift means no real sales yet.

Along the supply chain

Downstream

Downstream, buyers of Steel Authority of India steel such as Mazagon Dock Shipbuilders, the shipbuilder, Larsen and Toubro, the engineering and construction group, and Garden Reach Shipbuilders, the shipbuilder, see no change in steel price or delivery from one coal test.

Upstream

Upstream, coking coal today comes mostly from Australia for importers like Steel Authority of India, and Mongolian mines send only this test load, so Australian sellers lose no volume and mine-equipment or coal firms see no new orders.

Where demand moves

Business

No new demand for steel appears — steel buyers order the same tons; the change sits on the input side, where Steel Authority of India tests a backup coal source to keep its furnaces running if Australian supply tightens.

Capital

Investors may pay a touch more for Steel Authority of India and steel peers as supply-risk worry eases, but with only a test flight and no cost saving, no broad buying wave follows.

How it spreads across sectors

Capital Goods

Neutral for heavy users and makers of plant gear, since steel output and input costs do not move on a coal test.

Metals & Mining

Small positive mood as steelmakers show they can look beyond Australia for coking coal, but with one airlift the effect on earnings stays near zero.

When it plays out

Immediate

In 1-7 days, Steel Authority of India shares may firm a touch on the trial news while traders wait for details on cost and coal quality.

Medium term

In 1-6 months, only a shift from costly air freight to rail and sea shipments with steady volumes would turn the test into real supply safety or savings.

Short term

In 1-4 weeks, follow-up notes on whether the Mongolian coal suited the furnaces decide if the route gets a second, larger trial.

Who it hits first

  • Switch Mobility, the electric-bus unit of truck and bus maker Ashok Leyland, won an order for 840 electric buses for Delhi under PM E-Drive.
  • The order covers 420 nine-metre and 420 twelve-metre air-conditioned electric buses, placed via Antony Road Transport Solutions for the Delhi Transport Corporation.

Who may gain

  • Ashok Leyland shareholders, whose e-bus unit gains 840 buses of order inflow
  • Battery and parts suppliers to Ashok Leyland, which could see small follow-on orders for batteries, electrical parts, and suspension

Along the supply chain

Downstream

Downstream, Antony Road Transport Solutions places the order and the Delhi Transport Corporation deploys the 840 buses for public transport in Delhi.

Upstream

Upstream, Ashok Leyland's suppliers of batteries, electrical parts, forgings, tyres, and steel stand to feed the 840-bus build, though each supplier's share is small.

Where demand moves

Business

New business demand flows to Switch Mobility and Ashok Leyland for 840 electric buses, with a thin trickle to battery, electrical, and suspension suppliers; rival bus makers win nothing from this round.

Capital

Capital flow should favour Ashok Leyland shares modestly on the order news, with light sympathy buying in e-bus suppliers and mild pressure on rival bus makers that missed out.

How it spreads across sectors

Automobile and Auto Components

Mild positive readthrough for e-bus and EV suppliers on the 840-bus Delhi order, while rival commercial-vehicle makers see a small competitive miss; the wider auto sector is unaffected.

When it plays out

Immediate

In 1–7 days Ashok Leyland shares react to the 840-bus win while rivals and suppliers adjust modestly.

Medium term

In 1–6 months execution and any follow-on Delhi e-bus lots decide whether this win grows into a bigger order book.

Short term

In 1–4 weeks focus shifts to delivery timelines, pricing, and margins on the 420 nine-metre and 420 twelve-metre buses.

Who it hits first

  • NMDC Limited, India's big iron ore miner, has opened a Rs 5,427 crore complex in Chhattisgarh with a new ore plant at Bacheli, a 135-km pipeline carrying 15 MTPA of ore mixed with water (slurry), and a 2 MTPA unit at Nagarnar turning ore dust into small balls (pellets) for steel furnaces.
  • With its own washing, transport and pellet units running, NMDC can sell more finished ore over the next few quarters at a lower cost per tonne.
  • Even so, NMDC stock fell about 2% that day, which suggests traders had already expected the opening or are cautious on ore prices and project spending.

Who may gain

  • NMDC Limited itself, the iron ore miner, gains higher sale volumes and lower transport bills from its own pipeline and pellet unit.
  • Steel makers that buy NMDC ore - Tata Steel, Steel Authority of India with its 7 MTPA Bhilai plant in Chhattisgarh, JSW Steel, Jindal Steel with its Raigarh plant in Chhattisgarh, and Jindal Stainless - get steadier local ore and pellets, which can trim input costs.

Along the supply chain

Downstream

Downstream, steel makers Tata Steel, SAIL, JSW Steel, Jindal Steel and Jindal Stainless receive the benefit, as local Bacheli ore, pipeline transport and Nagarnar pellets improve availability and can lower their input bills.

Upstream

Upstream, firms that supplied NMDC - rail builder RVNL, equipment makers BEML and Tega Industries, planner CMPDI and service firms MSTC, SEPC and SouthWest - did their work during construction; with the plant commissioned, this event brings them no new orders.

Where demand moves

Business

Business demand flows from NMDC outward as saleable ore and pellets: NMDC can now offer more washed ore and Nagarnar pellets to its steel customers, while equipment and construction suppliers see no fresh orders because the build phase is over.

Capital

Investor money is likely to favour NMDC for rising volumes and its steel customers for steadier costs, while trimming smaller rival miners on fears of extra supply, though the 2% slide in NMDC shows near-term caution on spending and ore prices.

How it spreads across sectors

Metals & Mining

Leader NMDC adds low-cost supply, which supports sector output but squeezes smaller rival miners on price and share.

Steel

Steel makers gain cheaper local ore and pellets from Chhattisgarh, aiding margins if steel prices hold.

When it plays out

Immediate

1-7 days: NMDC trades flat to soft after the 2% slide as traders weigh priced-in opening vs volume promise; steel buyers react mildly.

Medium term

1-6 months: Higher NMDC volumes and pipeline savings show in sales, while rival miners feel any price pressure and steel makers bank cost relief.

Short term

1-4 weeks: Watch NMDC dispatches, pellet sales and any ore price moves; steel makers comment on input costs in updates.

Who it hits first

  • Vedanta Group, a big miner and metal maker (aluminium, zinc, oil and more), will spend about Rs 1 lakh crore building and growing its sites in Odisha and aims to create 50,000 jobs.
  • Part of the money grows its Jharsuguda aluminium smelter, the plant that turns alumina powder into aluminium metal, which today can make 1.6 MTPA (million tonnes a year).
  • The news lifts Vedanta's own growth story right away, while costs and new output only show up over months and years.

Who may gain

  • Vedanta Limited and its shareholders, through faster future growth
  • Workers and job seekers in Odisha, from the 50,000 targeted jobs
  • Construction and engineering firms that could win plant-building work
  • Suppliers of smelter inputs such as carbon materials, if orders follow

Along the supply chain

Downstream

Downstream, buyers of Vedanta's metals — engineering giant Larsen & Toubro plus steel makers Tata Steel, JSW Steel, and Jindal Steel, and fuel buyer Indian Oil — get steadier future input supply rather than any immediate gain, since new metal only flows after construction.

Upstream

Smelter builders and input makers stand to gain: carbon-material producers like Rain Industries feed aluminium smelters, and engineering, power-equipment, refractory, and automation vendors all sell into new plant builds, though no supplier contract is named yet.

Where demand moves

Business

Construction demand comes first: building and expanding smelters needs engineering contractors, equipment, pipes, power gear, and materials, so industrial suppliers see future orders. Once new smelter lines run, aluminium supply rises, giving metal buyers such as engineering firms and steel makers steadier input availability.

Capital

Investors re-rate Vedanta on the stronger growth outlook, which can lift its shares near term; funding a Rs 1 lakh crore programme may later mean more borrowing or fundraising, which tempers the cheer.

How it spreads across sectors

Chemicals

Makers of smelter inputs like carbon materials could see new orders as smelter lines grow, though nothing is ordered yet.

Construction

Future plant-building and infrastructure orders could flow to engineering and construction firms if tenders follow the announcement.

Metals & Mining

Positive mood across metal makers on the big Odisha bet, but aluminium rivals such as Hindalco and National Aluminium face extra future supply.

Power

Smelters drink electricity, so captive-power builders and Odisha power suppliers may see demand over time.

When it plays out

Immediate

In the first week, Vedanta shares firm on the growth headline while suppliers and rivals drift on sentiment with no earnings change.

Medium term

Over one to six months and beyond, construction orders land and costs build, with new aluminium output only much later.

Short term

Over the next few weeks, watch for tender, contractor, funding, and approval details that decide who really gains.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

12 Jun 2026unspecified₹4
6 Jun 2025unspecified₹3.6
21 Jun 2024unspecified₹3.6
22 Jun 2023unspecified₹3.6
28 Jul 2022split₹0
15 Jun 2022unspecified₹51
17 Jun 2021unspecified₹25
6 Aug 2020unspecified₹10

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.