Tata Steel rallies 5%, hits 52-week high on strong September quarter result

The company's Ebitda from India operations surged 4.1 times quarter-on-quarter (QoQ) and 49 per cent year-on-year (YoY) to Rs 6,025 crore.

Shares of Tata Steel hit a 52-week high of Rs 515, up 5 per cent in the early morning trade on Tuesday, thus gaining 6 per cent in the past two trading days after the company reported a strong set of numbers on operational front for the quarter ended September 2020(Q2FY21). The stock of the Tata Group company surpassed its previous high of Rs 505.95, touched on January 14, 2020.

Tata Steel delivered strong results in India with broad-based, market-leading volume growth, and strong cash flow generation in Q2FY21. The company’s Ebitda (earnings before interest, taxes, depreciation, and amortisation) from