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Tata Steel gains 5% post Q4 results; best performer on Sensex

The company posted a consolidated net loss of Rs 1,168 cr in Q4 against Rs 3,042 cr in previous year

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The government had earlier said it would not go in for distress sale of the three SAIL subsidiaries and rather look for a management that will turn around the units

SI Reporter Mumbai
Shares of Tata Steel was up 5% to Rs 480 on BSE in intra-day trade even as the company reported a consolidated net loss of Rs 1,168 crore in March 2017 (Q4FY17), 61% lower as compared to Rs 3,042 crore in the same quarter the previous year.

The company’s consolidated revenue during the quarter under review was up 33% at Rs 35,305 crore, against Rs 27,071 crore in the year-ago period.

“The overall outlook for the steel market remains constructive on optimism on US infra spend and China supply side reforms. The recent slide in commodity prices, however