Tata Steel surges 7% as Q3 net beats forecast
Shares of Tata Steel reversed losses after steel major posted a consolidated net profit in the Oct-Dec quarter of Rs 813.89 crore, beating market expectations of a loss.
By ET Bureau |
MUMBAI: Shares of Tata Steel reversed losses after the steel major posted a consolidated net profit in the Oct-Dec quarter of Rs 813.89 crore, beating market expectations of a loss.
The company���s net sales stood at Rs 33191.01 crore for the quarter ended Dec 31, 2008. Last month, the company said Oct-Dec net profit from its Indian operations tumbled 56 per cent and a recovery in demand was only expected in the second half of 2009.
At 3:20 pm, Tata Steel���s shares were up 6.19 per cent at Rs 173.30 on the BSE.
The company���s net sales stood at Rs 33191.01 crore for the quarter ended Dec 31, 2008. Last month, the company said Oct-Dec net profit from its Indian operations tumbled 56 per cent and a recovery in demand was only expected in the second half of 2009.
At 3:20 pm, Tata Steel���s shares were up 6.19 per cent at Rs 173.30 on the BSE.
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