Tata Steel up on advance tax payment buzz

DALAL STREET SPIKES

Tata Steel hit a 52-week high of Rs 392.90 before closing at Rs 391.80, up by 3.47 per cent. More than 47.89 lakh shares were traded on the Bombay Stock Exchange (BSE).

The counter surged up on talks that the company has paid a large advance tax in the second instalment.

The counter has attracted good buying interest in the last few days on market talks that the company has paid a big advance tax for the second instalment.

This and expectations that steel makers will hike prices to offset rising input costs has led to the buying interest, according to market sources.