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Tata Steel inches up after good production in FY 2014

Capital Market/ 10:04 , Apr 07, 2014

Tata Steel rose 0.7% to Rs 404.70 at 10:02 IST on BSE after the company said its saleable steel production rose 12.72% to 8.95 million tonnes per annum in the year ended 31 March 2014 over the year ended 31 March 2013.

The announcement was made after market hours on Friday, 4 April 2014.

Meanwhile, the S&P BSE Sensex was up 51.80 points or 0.23% at 22,411.30.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 8.41 lakh shares in the past one quarter.

The stock hit a high of Rs 409 and a low of Rs 403 so far during the day. The stock had hit a 52-week high of Rs 435.40 on 2 January 2014. The stock had hit a 52-week low of Rs 195.40 on 7 August 2013.

The stock had outperformed the market over the past one month till 4 April 2014, surging 14.26% compared with the Sensex's 5.42% rise. The scrip had, however, underperformed the market in past one quarter, sliding 2.59% as against Sensex's 7.23% rise.

The large-cap company has equity capital of Rs 971.21 crore. Face value per share is Rs 10.

Tata Steel's hot metal production rose 11.74% to 9.90 million tonnes per annum (MTPA) in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013). Crude steel production rose 12.55% to 9.15 MTPA in FY 2014 over FY 2013.

Tata Steel reported a consolidated net profit of Rs 503.24 crore in Q3 December 2013 as against net loss of Rs 763.06 crore in Q3 December 2012. Net sales rose 14.4% to Rs 36409.80 crore in Q3 December 2013 over Q3 December 2012.

Tata Steel is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum (mtpa). It is the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.

 



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