Meanwhile, the BSE Sensex was down 45.27 points or 0.23% at 19,719.51.
On BSE, 1.18 lakh shares were traded in the counter as against average daily volume of 6.92 lakh shares in the past one quarter.
The stock hit a high of Rs 440.50 and a low of Rs 435.65 so far during the day. The stock had hit a 52-week low of Rs 347.55 on 6 September 2012. The stock had hit a 52-week high of Rs 500.90 on 21 February 2012.
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The stock had outperformed the market over the past one month till 3 January 2013, surging 13.11% compared with the Sensex's 2.38% rise. The scrip had also outperformed the market in past one quarter, jumping 9.64% as against Sensex's 4.74% gain.
The large-cap steel maker has equity capital of Rs 971.21 crore. Face value per share is Rs 10.
Shares of Tata Steel had risen 3.16% in three trading sessions to settle at Rs 441.85 on Thursday, 3 January 2013, from a recent low of Rs 428.30 on 31 December 2012. Shares of the steel major witnessed a sharp rally over the past few weeks. From a low of Rs 361.25 on 20 November 2012, the stock jumped 22.31% to settle at Rs 441.85 on 3 January 2013.
Tata Steel's Chief executive of Tata Steel Europe, Dr. Karl-Ulrich K�hler, has said in a 2012 year-end review that after a brief recovery in demand and a short-lived pick-up, Tata Steel Europe has seen declining momentum since the March 2012 quarter. Demand in Europe is weak and getting weaker, he said. He said that Tata Steel Europe has made substantial progress in its five-year management improvement programme. The programme has already generated benefits of �200 million since it was launched at the beginning of 2011 and that the company has doubled the pace this year, he said. By itself, this is probably not enough to cope with the challenges that the company faces, he said.
Dr. K�hler said that the company is focused on market differentiation, supported by operational excellence and technical innovation. He said that the company has a road map to develop new products and that the company has closed the gap with its competitors in Europe massively over the last two years. He said that the company's market strategies are working. Tata Steel Europe has enhanced the ratio of its differentiated products from below 20 percent to something closer to 30 percent now, and the company is working to drive it to 50 percent, he said. Tata Steel Europe has lowered its controllable costs, though this has yet to be reflected in the bottom line, he said.
Tata Steel chief executive Hemant Nerurkar said that the company will soon be in position to increase production and sales by more than a million tonnes in India over last year's levels.
Tata Steel reported consolidated net loss of Rs 363.93 crore in Q2 September 2012, compared with net profit of Rs 212.43 crore in Q2 September 2011. Net sales rose 4.2% to Rs 33867.32 crore in Q2 September 2012 over Q2 September 2011.
Tata Steel Group is one of the world's largest steel producers, with an aggregate crude steel capacity of more than 28 million tonnes per annum (MTPA) and approximately 81,000 employees across five continents.
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