Tata Steel gains after reporting best ever total production

Tata Steel rose 1.09% to Rs 325.75 at 9:36 IST on BSE after the company said it completed the year ended March 2016 with an overall increase in production and sales volumes.

The announcement was made after market hours on Friday, 8 April 2016.

Meanwhile, the S&P BSE Sensex was up 30.16 points or 0.12% at 24,704.

On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 12.31 lakh shares in the past two weeks. The stock hit a high of Rs 326.60 and a low of Rs 319.80 so far during the day. The stock had hit a 52-week high of Rs 384.20 on 6 May 2015. The stock had hit a 52-week low of Rs 200 on 29 September 2015.

Tata Steel said the year registered its best ever performance in hot metal, crude steel, saleable steel production and total sales. Hot Metal production rose 1.42% to 27.14 lakh tonnes in Q4 March 2016 over Q4 March 2015. Crude Steel production rose 4.88% to 25.60 lakh tonnes in Q4 March 2016 over Q4 March 2015. Saleable Steel production rose 6.57% to 25.46 lakh tonnes in Q4 March 2016 over Q4 March 2015.

On consolidated basis, Tata Steel reported net loss of Rs 2127.23 crore in Q3 December 2015 as against net profit of Rs 157.11 crore in Q3 December 2014. Net sales declined 16.5% to Rs 27818.73 crore in Q3 December 2015 over Q3 December 2014.

Tata Steel is Europe's second largest steel producer. The combined Tata Steel group is largest steel producer in the world.

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