Tata Steel shares jump nearly 5%, market cap rises by Rs 3,031 cr

At NSE, shares of the company soared 4.60% to end at Rs 691.4

Shares of Tata Steel on Friday rose by nearly 5 per cent after the company said its saleable steel production in the country rose 18 per cent to 5.98 million tonnes (MT) in April-September this year.

The stock gained 4.73 per cent to settle at Rs 691.40 on BSE. During the day, it jumped 5.10 per cent to Rs 693.90.

The scrip was the top performer among the 30-share index.

At NSE, shares of the company soared 4.60 per cent to end at Rs 691.45.

The company's market valuation rose by Rs 3,030.87 crore to Rs 67,149.87 crore.

In terms of equity volume, 6.30 lakh shares of the company were traded on BSE and over 94 lakh shares changed hands at NSE during the day.

Tata Steel yesterday said its saleable steel production in the country rose 18 per cent to 5.98 MT in April-September this year compared to 5.06 MT in the same period last year.

The saleable steel output in July-September quarter of the current fiscal was at 3.02 MT (provisional) against 2.72 MT in the corresponding quarter of previous fiscal, Tata Steel said in a statement.

"September quarter 2017-18 sales registered a volume growth of 12 per cent quarter-on-quarter and 17 per cent year-on-year," the statement said.