Tata Steel rose 1.15% to Rs 335 at 12:13 IST on BSE, with the stock extending its previous days gain triggered by declaring rise in saleable steel production in Q1 June 2016.
Meanwhile, the BSE Sensex was down 15.88 points, or 0.06%, to 27,262.88
On BSE, so far 3.77 lakh shares were traded in the counter compared with average daily volume of 9.48 lakh shares in the past one quarter. The stock hit a high of Rs 337.10 and a low of Rs 330 so far during the day. The stock hit a 52-week high of Rs 364.15 on 21 April 2016. The stock hit a 52-week low of Rs 200 on 29 September 2015. The stock had underperformed the market over the past 30 days till 4 July 2016, falling 2.2% compared with Sensex's 1.62% rise. The scrip also underperformed the market in past one quarter, rising 6.12% as against Sensex's 9.63% gain.
The large-cap company has an equity capital of Rs 971.22 crore. Face value per share is Rs 10.
Shares of Tata Steel had gained 1.18% to settle at Rs 331.20 yesterday, 4 July 2016 after the company on provisional basis reported a 5.7% rise in saleable steel production at 2.356 million tonnes in Q1 June 2016 over Q1 June 2015. Hot metal production rose 16.4% to 3.012 million tonnes in Q1 June 2016 over Q1 June 2015. Crude steel production was up 7.7% to 2.525 million tonnes in Q1 June 2016 over Q1 June 2015. The announcement was made during market hours yesterday, 4 July 2016.
Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016, higher than net loss of Rs 5674.29 crore in Q4 March 2015. Tata Steel's total income fell 12.34% to Rs 29636.69 crore in Q4 March 2016 over Q4 March 2015.
Tata Steel is Europe's second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the world's largest steel producers, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.
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