Tata Steel rallies 6% on price hike

The stock extended gains and touched a high of Rs 414, up 5.5% from the day's low. It finally ended 6% higher at Rs 412. Around 5.25 million shares changed hands at the counter today.
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(Updated at 1431 hrs)

Tata Steel has rallied after the company decided to raise the prices of its products for the second time in a month. The company today announced a price hike of Rs 750 per tonne on the back of improvement in domestic demand for the commodity.

The stock today opened at Rs 395. It touched a low of Rs 393, and soared to a high of Rs 412. The stock is now trading at Rs 400, up 3%. The counter witnessed heavy trades of 3.89 million shares as compared to the two-week daily average traded volumes of 4.98 million shares.