Tata Steel up 8 pct on strong Q2 figures

Font Size

Print

Feedback

Email

Discuss

Related Articles

Tech Mahindra to hold 50.42 pct in SatyamIndia-targeted M&A lowest in 3 yearsDoes India need long-term foreign trade policy?Moser Baer India FY'09 net loss at Rs 150.86 cr

Mumbai: The shares of country's largest steel maker Tata Steel surged nearly eight per cent on the bourses in early trade on Wednesday on the back of strong second quarter earning figures.

On the Bombay Stock Exchange, the scrip opened at Rs 156.10 and rallied to a high of Rs 159.95, up 7.60 per cent from its last close.

The world's sixth largest steel maker on Tuesday reported a consolidated net profit of Rs 4,703.64 crore for the quarter ended September 30, compared to a net profit of Rs 1,489.56 crore in the corresponding period last fiscal.

During the quarter the company's sales rose to Rs 44,198.97 crore from Rs 32,441.61 crore in the same quarter of the last fiscal.

On the National Stock Exchange, the scrip opened at Rs 150. Later the scrip touched a high of Rs 160, up 7.53 per cent from the last close.

In late morning trade, the shares of Tata Steel were quoted at Rs 159.50, a gain of 7.30 per cent on the BSE.