Tata Sponge Iron Limited (TATASPONGE) Plunges -0.09% on Mar 15

March 15, 2018 - By Adrian Erickson

Shares of Tata Sponge Iron Limited (NSE:TATASPONGE) last traded at 1006.05, representing a move of -0.09%, or -0.95 per share, on volume of 7,923 shares. After opening the trading day at 1002, shares of Tata Sponge Iron Limited traded in a close range. Tata Sponge Iron Limited currently has a total float of 15.39M shares and on average sees 278,062 shares exchange hands each day. The stock now has a 52-week low of 672 and high of 1240.

The Success of India’s Equity Market

The potentials of the Asian economy cannot be undermined especially when they are driven by the success and prospects of thriving economies such as that of India.

The equity market is one of any nation’s gems. In India, the corporate sector represents roughly 14% of its gross domestic product (GDP). As a developing economy, this is already a compelling figure. In leading economies such as the US, the corporate sector represents 70% of national GDP.

Indian Equity Market

The Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) are the two main stock exchanges in the country. They represent about 4% of India’s GDP, with more than half of all publicly traded companies in the country listed on the BSE and the NSE.


The BSE, founded in 1875, is the oldest stock exchange not just in India but in Asia as well. It is the first entity to get a permanent recognition in India under the Securities Contract Regulation Act of 1956. Presently, it is the 11th biggest stock exchange globally with a total market capitalization of $1.70 trillion as of January 2015. With a speed of six microseconds, the BSE is also one of the fastest stock exchanges globally.

The SENSEX 30 is the index monitoring the top 30 stocks on the BSE based on various factors such as liquidity and market capitalization.

The BSE first attained a four-digit figure in July 1990. When the Bhartiya Janta Party won the General Elections in October 1999, it first attained the 5,000 mark. The BSE first attained the 10,000 mark in February 2006 and the 20,000 mark in December 2007. When the Global Financial Crisis of 2008 broke out, the BSE had posted its biggest losses, declining more than 2,000 points in just two consecutive trading days in January 2008. Tata Sponge Iron Limited is a stock traded on the Indian stock exchange.

Nonetheless, the BSE was able to recover from the turmoil. In March 2015, it first attained the 30,000 mark. Shortly after, it had once again posted one of its biggest one-day drop, losing 1,741 points in August 2015. The decline is primarily attributed to the devaluation of yuan. China is the biggest economy in Asia, which is why its economic downturn had a huge dent in the entire equity market of the region.


While the BSE is the first stock exchange in Asia, the NSE, founded in 1992, on the other hand, is the stock exchange that introduced electronic trading system in India. Because of its establishment, India had begun embracing and shifting to fully automated stock exchanges that are more efficient, reliable, and convenient. Tata Sponge Iron Limited has relatively good liquidity.

The NIFTY is the index monitoring the top 50 companies across more than 20 sectors on the NSE based on different factors, particularly market capitalization.

India is one of Asia’s leading economies. With its growth prospects and potentials, the growth opportunities seem limitless as well. Consequently, investing in the Indian stock market is highly advised nowadays, given the thriving success of both the BSE and NSE. Professional analysts might be interested how this will affect Tata Sponge Iron Limited.

More news for Tata Sponge Iron Limited (NSE:TATASPONGE) were recently published by: Economictimes.Indiatimes.com, which released: “Buy Tata Sponge Iron, target Rs 1054: Sameet Chavan” on January 02, 2018. Economictimes.Indiatimes.com‘s article titled: “Buy Tata Sponge Iron, target Rs 1050: Kunal Bothra” and published on November 02, 2017 is yet another important article.

Tata Sponge Iron Limited produces and sells sponge iron in India. The company has market cap of INR15.48 billion. The firm offers sponge iron to secondary steel sector for the production of steel. It has a 13.43 P/E ratio. It also operates two power plants with a combined generation capacity of 26 MW that generate power from waste heat.

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