Stocks

Smart Q3 numbers lift Tata Steel

PTI Mumbai | Updated on February 16, 2011

Shares of Tata Steel surged by nearly 3 per cent in early trade on the BSE today as investors cheered an over two-fold jump in the company’s third quarter net profit.

Yesterday, the company had posted an over two-fold growth in consolidated net profit to Rs 1,003.02 crore for the quarter ended December 31, 2010, as against Rs 472.65 crore in the year-ago period.

Buoyed by robust quarter earnings numbers, shares of Tata Steel rose by 2.96 per cent to an early high of Rs 634.80 on the Bombay Stock Exchange.

Similarly, the scrip witnessed a smart gain of 3.22 per cent to Rs 636.50 in early trade on the National Stock Exchange.

Published on February 16, 2011

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