You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Tata Steel gains after strong Q2 outcome

Topics
Business Finance

Capital Market 

Tata Steel rose 2.16% to Rs 601.90 at 09:19 IST on BSE after consolidated net profit jumped 206.18% to Rs 3116.20 crore on 34.82% rise in total income to Rs 44175.53 crore in Q2 September 2018 over Q2 September 2017.

The result was announced after market hours yesterday, 13 November 2018.

Meanwhile, the S&P BSE Sensex was up 180.48 points, or 0.51% to 35,324.97

On the BSE, 1.66 lakh shares were traded in the counter so far compared with average daily volumes of 9.09 lakh shares in the past two weeks. The stock had hit a high of Rs 608 and a low of Rs 600.05 so far during the day.

Tata Steel's consolidated EBITDA increased to Rs 9000 crore in Q2 September 2018 as compared to Rs 4664 crore in Q2 September 2017. Consolidated EBITDA margin stood at 21% in Q2 September 2018. Consolidated deliveries grew by 15% to 7.42 million tonne.

T V Narendran, CEO & Managing Director, Tata Steel said that the company is positive on steel demand outlook especially in India, but the risk of trade wars and increasing imports remains a concern.

Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 27.5 million tonnes per annum (MTPA) as on 31 March 2018. It is one of the world's most geographically-diversified steel producers, with operations in 26 countries and a commercial presence in over 50 countries.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 14 2018. 09:26 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU