The share of multinational steel maker Tata Steel (Tata Steel) is getting stronger than 1%.
In fact, the company had announced quarterly results after the market closed on Friday, in which Tata Steel’s profits increased by more than 54%. The effect of better quarter results is being seen on the company’s stock today.
It is worth mentioning that on the basis of year-on-year basis, Tata Steel’s October-December quarter profit has increased by 54.31%. In the October-December quarter of 2017, the company earned a profit of Rs 1,753 crore in the same period of 2018 compared to Rs 1,135 crore. Tata Steel’s net income increased 23% to Rs 41,220 crore from Rs 33,447 crore, in which domestic sales were up by 41% to Rs 22,063 crore. Apart from this, Tata Steel’s Ebitda is up 27% to Rs. 7,225 crores against Rs. 5,671 crores.
In the BSE, Tata Steel’s share has risen slightly to Rs 480.45 at the opening level of Rs 472.65, compared to the previous closed level of Rs 469.55. At around 10 pm, it was at Rs. 474.85 with a rise of Rs. 5.30 or 1.13%. In the last 52 weeks, the company’s share went up to Rs. 720.60, while the downside slipped to 442.10 rupees.
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