Tata Steel today surged over three per cent in the early trade on the Bombay Stock Exchange, buoyed by smart second quarter numbers reported by the global steel major last week.
On Friday, Tata Steel swung into a net profit of Rs 1,978.81 crore for the July-September quarter of this fiscal, which helped its shares touch an early high of Rs 625, reflecting a gain of 3.08 per cent on the Bombay Stock Exchange.
The steel major had a loss of Rs 2,707.25 crore during the September quarter last year.
Shares of Tata Steel saw a similar trend on the National Stock Exchange and rose by 2.63 per cent to Rs 622.95 in the morning trade.
The rise in the stock was significant as the BSE benchmark Sensex was trading subdued at 20,111.14, down 45.75 points from previous close. Tata Steel was the top gainer among the 30-Sensex shares and the major contributor in offsetting the overall loss in the benchmark.
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