Tata Steel soars 5%, hits new record high post June quarter results

In the past six months, the stock has zoomed 120 per cent, as compared to a 6.8 per cent rise in the S&P BSE Sensex

Shares of Tata Steel hit a new record high of Rs 1,532 as they rallied 5 per cent on the BSE in intra-day trade on Tuesday after the company reported a consolidated net profit of Rs 8,907 crore in the June quarter (Q1FY22) as against a loss of Rs 4,416 crore in the corresponding period last year on the back of increased revenue and low base on account of Covid-19’s first wave last year.

The stock of the Tata Group company was quoting higher for the fourth trading straight day, having surged 12 per cent during the same period. In the