Tata Steel slides on profit booking

Tata Steel lost 1.1% to Rs 399 at 14:09 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 124.32 points or 0.55% at 22,427.17.

On BSE, so far 7.08 lakh shares were traded in the counter as against average daily volume of 8.39 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 1.94% at the day's low of Rs 395.60 so far during the day. The stock rose as much as 2.09% at the day's high of Rs 411.90 so far during the day. The stock had hit a 52-week high of Rs 435.40 on 2 January 2014. The stock had hit a 52-week low of Rs 195.40 on 7 August 2013.

The stock had outperformed the market over the past one month till 2 April 2014, surging 17.26% compared with the Sensex's 6.78% rise. The scrip had, however, underperformed the market in past one quarter, sliding 3.83% as against Sensex's 7.96% rise.

The large-cap company has equity capital of Rs 971.21 crore. Face value per share is Rs 10.

Shares of Tata Steel were on a roll recently. The stock had surged 11.49% in eight trading sessions to settle at Rs 403.45 on Wednesday, 2 April 2014, from a recent low of Rs 361.85 on 22 March 2014.

Tata Steel reported a consolidated net profit of Rs 503.24 crore in Q3 December 2013 as against net loss of Rs 763.06 crore in Q3 December 2012. Net sales rose 14.4% to Rs 36409.80 crore in Q3 December 2013 over Q3 December 2012.

Tata Steel is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum (mtpa). It is the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.

Powered by Capital Market - Live News