Wednesday, 17 May 2017

Tata Steel surges 9% post strong Q4 results; brokerages upbeat on performance

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Shares of Tata Steel soared 9 percent intraday as investors cheered the company’s strong Q4 results.

The Tata Group firm narrowed its consolidated net loss to Rs 1,168 crore against a loss of Rs 3,042 crore posted during the same period last year. An exceptional loss of Rs 4,068.6 crore was posted by the firm.

Tata Steel reported consolidated revenues of Rs 35,304.9 crore, up over 30 percent against Rs 27,071 crore posted during the corresponding quarter of last year.

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