The announcement was made after market hours on Monday, 9 April 2012.

Meanwhile, the BSE Sensex was up 4.99 points, or 0.03%, to 17,227.13.

On BSE, 7.18 lakh shares were traded in the counter as against an average daily volume of 13.71 lakh shares in the past one quarter.

The stock hit a high of Rs 460.40 and a low of Rs 449.10 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 638.95 on 13 April 2011.

The stock had outperformed the market over the past one month until 9 April 2012, gaining 1.27% compared with the Sensex's 1.61% fall. The scrip had also outperformed the market in past one quarter, rising 26.99% as against 8.90% rise in the Sensex.

India's largest steel maker by sales has an equity capital of Rs 971.21 crore. Face value per share is Rs 10.

Tata Steel said sales from its Indian operations rose 3.3% to 1.77 million tonnes in Q4 March 2012 over Q4 March 2011.

The Indian operations account for about a quarter of the group's total annual global capacity of about 28 million tonnes, which includes unit Corus, Europe's second-largest steelmaker. The company's crude steel production in India rose 2.6% to 1.82 million tonnes in Q4 March 2012 over Q4 March 2011. Sales from Indian operations rose 3.4% for the financial year ended March 2012 (FY 2012) to 6.63 million tonnes, helped by a 6% jump in sales of flat products, used in cars and consumer goods.

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.

With regard to future outlook, Tata Steel had 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.