Tata Steel extends rally post Q4 results; stock zooms 97% since February

The management has guided for an increase in Q1FY22 realisations by Rs 6,000-7,000/tonne and spreads to improve by Rs 4,000-4,500/tonne on a sequential basis

Shares of Tata Steel moved higher by 8 per cent to Rs 1,185, their fresh record high on the BSE, in intra-day trade on Friday. The stock has gained 11 per cent in the past two trading days after the company reported its best-ever performance across metrics such as revenue, Ebitda (earnings before interest, taxes, depreciation, and amortisation), and net profit (excluding exceptional items).

At 12:11 pm, Tata Steel traded 6 per cent higher and was the top gainer in the Nifty50 pack of stocks. The benchmark index traded 0.40 per cent higher at the same time, meanwhile, its BSE counterpart