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Tata Steel Long Products freezes at 20% upper circuit on robust Q2 results

The company reported a consolidated net profit at Rs 59 crore in Q2FY21, as against loss of Rs 197 crore in the year ago quarter

Workers, steel products, export, cargo ship, China
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Workers, steel products, export, cargo ship, China

SI Reporter Mumbai
Shares of Tata Steel Long Products were locked in the 20 per cent upper circuit band at Rs 403 on the BSE on Wednesday in an otherwise weak market after the company reported a consolidated net profit of Rs 59.06 crore in July-September quarter (Q2FY21). The company, formerly known as Tata Sponge Iron, had posted net loss of Rs 197 crore in the year-ago quarter.

The company, engaged in manufacturing steel and allied products, reported 52 per cent year on year (YoY) growth in revenue from operations at Rs 1,186 crore in Q2FY21 as against Rs 653 crore in the corresponding

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