Tata Steel has released its production data for October-December quarter of FY23.
According to the filing, for 9MFY23, Tata Steel India crude steel production and deliveries surged 4% on YoY basis while domestic deliveries soared ~10% YoY.
In 3QFY23, Tata Steel India crude steel production stood at 5 million tons and was up 4% on YoY and QoQ basis. Deliveries stood at 4.73 million tons and rose 7% YoY primarily driven by 11% growth in domestic deliveries, which also led to improvement in product mix, the company said.
The company recorded domestic deliveries across segments in 9MFY23:
Further, the company informed in a regulatory filing that Neelachal Ispat Nigam Limited (NINL) has begun operations within 3 months of completion of acquisition and is presently undergoing ramp up to rated capacity of ~1 million tons. Tata Tiscon rebars are being made from NINL billets.
During the quarter, Tata Steel Europe steel deliveries stood at 1.96 million tons and were lower on YoY basis but up 5% on QoQ basis. Production was lower on QoQ and YoY basis.
On Monday morning trade, Tata Steel was trading at Rs117.25 per share higher by 1.43% on the BSE.
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