Tuesday afternoon saw little change in the price of Tata Steel Ltd. shares despite the board of the Tata Group company authorizing the issuance of non-convertible debentures (NCDs) to raise Rs. 2,700 crore.

On the BSE, Tata Steel's shares closed at Rs 148.65, down 0.64%. The company's market capitalization was Rs 1.85 lakh crore. In a statement to stock exchanges, Tata Steel said that it will offer 2,70,000 non-convertible debentures (NCDs) with a face value of Rs 1,00,000 per, for a total of Rs 2,700 crore.

After three years from the date of allotment, the debentures will be redeemed. According to a statement from Tata Steel to stock exchanges, the debentures have credit ratings of "AA+" from India Ratings and "AA+" from CARE Ratings Limited.

51.09 lakh shares in total changed hands on the BSE, translating into a transaction of Rs 76.32 crore. With a one-year beta of 0.8, the Tata Steel stock indicates minimal volatility throughout that time. Technically speaking, Tata Steel's relative strength index (RSI) was 55.1, indicating that it is neither trading in the overbought or oversold areas.

The 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, and 200 day moving averages are all below the share price of Tata Steel. In a year, Tata Steel shares have increased 39%, and in three years, they have increased 102.80%.