Wednesday, 8 February 2017

Tata Steel hits 52-week high on strong Q3

Ripples Advisory Private Limited, Indore @9303093093

Shares of Tata Steel soared nearly 3 per cent, hitting 52-week high, on the Bombay Stock Exchange after the company reported a consolidated net profit of Rs 232 crore for the quarter ended December 2016, against loss of Rs 2,748 crore in a year ago quarter. Boosted by the strong Q3, shares of company gained as much as 2.90 per cent and touched 52-week high in intraday trade to Rs 487.00 apiece on the Bombay Stock Exchange. 

In a similar fashion, stocks of firm advanced 0.85 per cent to Rs 476.80 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 28,316.83, down 18.33 points, or 0.06 per cent.

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