Tata Steel shares in focus today, here's why 

Shares of Tata Steel are in news today after the firm said Neath Port Talbot Council’s Planning Committee has cleared Tata Steel UK’s offer to deliver electric arc furnace steelmaking in Port Talbot.  Shares of Tata Steel ended 0.11% higher at Rs 134.90 on Tuesday. Market cap of the firm rose to Rs 1.67 lakh crore. Total 23.10 lakh shares changed hands amounting to a turnover of Rs 30.65 crore on BSE. The Tata Group stock has a one-year beta of 1.4, signaling high volatility during the period. 
 
The stock is trading lower than the 50 day, 100 day, 150 day, 200 day but higher than the 5 day, 10 day, 20 day, 30 day and 50 day moving averages. In a year, the stock has fallen 5.51%. 

The relative strength index (RSI) of Tata Steel stock stands at 52, signaling it's trading neither in the overbought nor in the oversold zone. 

The project will involve a 1.25 billion pound investment, backed by 500 million pound of UK Government funding. The investment will preserve 5,000 Tata Steel UK jobs and reduce on-site CO2 emissions by 90%.

Rajesh Nair, CEO of Tata Steel UK, said," “This 1.25-billion-pound investment is the most significant investment made in the UK steel industry in decades. The facility will secure high-quality steel production, preserve thousands of jobs and safeguard steel making in Port Talbot for generations to come. 

An Electric Arc Furnace uses electricity to melt predominantly scrap steel – of which there is an abundance in the UK – rather than requiring imported iron ore and coal. The site’s ageing iron and steelmaking assets—which included the harbour, coke ovens, sinter plant and blast furnaces—were closed last year.