Business Standard

Tata Steel gains 4% after March quarter nos; other metal stocks rally too

The company's margin improved on the back of stronger performance in the early part of the quarter.

Tata Steel

Motilal Oswal Financial Services (MOFSL) has maintained a "Neutral" rating on the stock.

SI Reporter New Delhi
Tata Steel shares climbed around 4 per cent on the BSE on Tuesday, a day after the company posted a consolidated pre-tax loss of Rs 1,499.45 crore for the quarter ended March 31, 2020. The company had logged a profit before tax (PBT) of Rs 4,252.50 crore in the corresponding period last year. 

The loss, the company said, was due to weak revenue and a slew of exceptional items, which further dented the earnings of the company.

At 09:22 am, the stock was trading around 3.4 per cent higher at Rs 332.10 as compared to a 0.52 per cent rise in the

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First Published: Jun 30 2020 | 9:51 AM IST

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