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Tata Steel shines on pension resolution, profitability

Tata Steel's profitability per tonne of steel sold increased by 20% in March qtr for domestic ops

Ujjval Jauhari  |  New Delhi 

It is rare that a large-cap scrip jumps by eight per cent or more in a day. The Tata Steel stock did so on Wednesday when it closed at Rs 493.40. In the past five years, there have been only four such instances. The latest gain could be attributed to strong operational performance for the March quarter and progress on settlement of the British Steel Pension Scheme (BSPS) in its UK-based operations. Also suggesting it could rise further in the coming months. For the March quarter, profitability per tonne of steel sold increased by about 20 per cent in the domestic (India) ...

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