Shares of Tata Steel surged by nearly 3% 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 the robust quarter earnings numbers, shares of Tata Steel rose by 2.96% to an early high of Rs 634.80 on the Bombay Stock Exchange.
Similarly, the scrip witnessed a smart gain of 3.22% to Rs 636.50 in early trade on the National Stock Exchange.