Tata Steel gains 2% as domestic sales volume grows 17% QoQ in December qtr

The company said that steel prices are expected to improve further with strong retail demand and ongoing restocking demand at the dealers' ends.

Shares of Tata Steel moved higher by 2 per cent to Rs 494 on the BSE on Friday after the company’s provisional domestic sales volume increased by 17 per cent sequentially in December quarter (Q3FY20) on improved market sentiment.

“Sales volume to auto segment was maintained during the quarter. Branded product & retail segment grew 23 per cent quarter on quarter (QoQ) while industrial products and projects grew 12 per cent QoQ. Tata Steel India’s production volume was flattish on QoQ basis,” the company said in a press release. READ HERE

The company further said domestic steel prices reached