Tata Steel on Tuesday touched Rs 1 trillion in market capitalisation after the scrip hit a 52-week high of Rs 882.50.
It said that benefits of strong cash flows and management’s commitment to lower debt should help Tata Steel to materially deleverage over the next two years.
“The rating affirmation and outlook change to stable are driven by a solid recovery in Tata Steel’s operations in the third quarter of the fiscal year ending March 2021,” Moody’s Vice President and Senior Credit Officer Kaustubh Chaubal said.