Meanwhile, the BSE Sensex was up 42.71 points, or 0.24% to 17,873.46.
On BSE, 14.95 lakh shares were traded in the counter as against average daily volume of 14.71 lakh shares in the past one quarter.
The stock hit a high of Rs 468 and a low of Rs 432 so far during the day. The stock had hit a 52-week low of Rs 332.35 on 2 January 2012. The stock had hit a 52-week high of Rs 661 on 18 February 2011.
The stock had outperformed the market over the past one month until 9 February 2012, gaining 24.68% compared with the Sensex's 12.75% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.51% as against 2.7% return in the Sensex.
India's largest private sector steel maker by sales has an equity capital of Rs 971.21 crore. Face value per share is Rs 10.
Tata Steel reported a consolidated net loss of Rs 603 crore in Q3 December 2011 as against net profit of Rs 1003 crore in Q3 December 2010. Turnover rose 13.79% to Rs 33103 crore in Q3 December 2011 over Q3 December 2010.
Commenting on the results, Tata Steel Managing Director Mr H M Nerurkar said: Our Indian operations delivered steady performance during the last quarter, with flat product volumes increasing 3% year-on-year. Long product volumes dropped marginally due to planned shutdowns, but we increased our market reach, recording our highest ever quarterly retail long products sales. Company-wide cost saving measures benefitted margins in an otherwise difficult market. We expect steel demand to improve on expectations of the RBI relaxing monetary policy to aid growth and investment. An improvement in operating performance, coupled with a number of new marketing initiatives, should increase profitability at the South East Asian operations.
Tata Steel Europe MD & CEO Dr Karl-Ulrich Köhler said: The December quarter marked the height of the cyclical cost-price squeeze. Tata Steel was one of the first steel companies in Europe last year to start adjusting its output and configuration to the slowdown in the recovery. The turnaround programme in our Long Products business is well on course for completion by the end of the financial year, as planned. Similar measures have been taken elsewhere in the company, most recently at some of our tubes operations in the Netherlands and the UK. Through our Step Up & Save initiative we are accelerating cash conservation in expectation of muted but stable demand in our core markets in 2012.
With regard to future outlook, Tata Steel said softening raw material prices is expected to ease product costing pressures from Q4 March 2012 onwards. Tata Steel said that steel demand in India is expected to improve with RBI indicating pro-growth monetary policy. Tata Steel said steel prices remain firm and with traditionally strong volumes in the fourth quarter, the company's profitability will improve. Tata Steel said that the outlook for steel demand in Europe remains stable. Strengthening steel prices in Europe and restocking will result in better margins of its European operations in the coming quarters, Tata Steel said.
Tata Steel said its South East Asian operations are expected to perform better with activities in Thailand coming back to normal. Reconstruction activities will boost long products demand, it said.
Tata Steel's net debt at the end of December 2011 was Rs 50528 crore, compared to Rs 46627 crore at the end of March 2011.
Tata Steel is among the top ten global steel companies with an annual crude steel capacity of over 28 million tonnes per annum (mtpa). 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.