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Tata Steel advances on fund raising proposal

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rose 2.24% to Rs 472.40 at 9:57 on after the company said its board meeting will be held on 20 April 2017, to consider a proposal for fund raising.

The announcement was made after market hours yesterday, 17 April 2017.

Meanwhile, the S&P Sensex was up 230.78 points or 0.78% at 29,644.44.

On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 6.81 lakh shares in the past one quarter. The stock had hit a high of Rs 474.25 and a low of Rs 465 so far during the day.

The stock had hit a 52-week high of Rs 508.45 on 17 March 2017 and a 52-week low of Rs 297.40 on 24 June 2016. It had underperformed the market over the past one month till 17 April 2017, sliding 7.97% compared with the Sensex's 0.79% fall. The scrip had also underperformed the market over the past one quarter, advancing 1.73% as against the Sensex's 8% rise.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

On a consolidated basis, reported net profit of Rs 231.90 crore in Q3 December 2016 compared with net loss of Rs 2747.72 crore in Q3 December 2015. Net sales rose 13.4% to Rs 27843.92 crore in Q3 December 2016 over Q3 December 2015.

is the world's second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 18 2017. 09:58 IST