Tata Steel shares zoom over 7% after Q4 results, biggest gainer on both key indices

Tata Steel share advanced 6.67 percent to close at Rs 545 on the BSE. During the day, it zoomed 7.26 percent to Rs 548

Press Trust of India April 26, 2019 17:34:25 IST
Tata Steel shares zoom over 7% after Q4 results, biggest gainer on both key indices
  • Shares of Tata Steel jumped over 7 percent Friday after the company's consolidated income rose in the March quarter

  • The scrip advanced 6.67 percent to close at Rs 545 on the BSE. During the day, it zoomed 7.26 percent to Rs 548

  • At the NSE, shares climbed 7.18 percent to close at Rs 547.45

New Delhi: Shares of Tata Steel jumped over 7 percent Friday after the company's consolidated income rose in the March quarter.

The scrip advanced 6.67 percent to close at Rs 545 on the BSE. During the day, it zoomed 7.26 percent to Rs 548.

At the NSE, shares climbed 7.18 percent to close at Rs 547.45.

The scrip was the biggest gainer among the front-lines on both the key indices during the day.

In terms of volume, 19.74 lakh shares were traded on the BSE during the day, while over three crore shares were traded on the NSE.

The company's market valuation rose by Rs 933.49 crore to Rs 62,451.49 crore on the BSE.

Tata Steel shares zoom over 7 after Q4 results biggest gainer on both key indices

Tata Steel. Representational image. Reuters

"Tata Steel's January-March 2019 EBITDA of Rs 75.1 billion (up 16 percent YoY) surpassed consensus driven by Tata Steel Europe," Edelweiss Research said in a report.

The company announced its January-March earnings post market hours Thursday.

Its consolidated income rose to Rs 42,913.73 crore in the reporting quarter from Rs 33,983.74 crore a year ago.

However, it reported a sharp 84.37 percent fall in consolidated net income at Rs 2,295.25 crore for the three months to March due to high base last year.

The company had booked a net income of Rs 14,688.02 crore in the corresponding quarter of the previous fiscal, the company said.

For the full fiscal 2019, consolidated net income almost halved to Rs 9,098.33 crore from Rs 17,762.81 crore, while consolidated revenue rose to Rs 1,59,089.57 crore from Rs 1,24,990.79 crore.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Tata Steel rejigs top deck: At 48, TV Narendran is youngest company MD
Business

Tata Steel rejigs top deck: At 48, TV Narendran is youngest company MD

The Board of Tata Steel, on Thursday, appointed T V Narendran as Managing Director designate, India and South East Asia, inducting him into the board as an additional director. He will succeed H M Nerurkar, the present Managing Director, who reaches superannuation on October 31, 2013.<br /><br />

Tata Steel's Corus saga nears end as co puts entire UK business up for sale
Business

Tata Steel's Corus saga nears end as co puts entire UK business up for sale

Tata also said in its statement that it is still in talks with investment firm Greybull Capital over the sale of its British long products unit

Power-hit Tata Steel posts flat sales at 1.59 MT in Q1
Business

Power-hit Tata Steel posts flat sales at 1.59 MT in Q1

According to a company statement, sales were a tad lower compared with the immediate previous quarter (January-March), when it touched 1.79 MT.