Tata Steel rose 3.39% to Rs 595 at 12:48 IST on BSE, ahead of the company's Q1 June 2017 results scheduled today, 7 August 2017.
Meanwhile, the S&P BSE Sensex was down 11.43 points or 0.04% at 32,313.98.
On the BSE, 5.66 lakh shares were traded on the counter so far as against the average daily volumes of 7.60 lakh shares in the past one quarter. The stock had hit a high of Rs 595.90 so far during the day, which is a 52-week high. The stock hit a low of Rs 583.50 so far during the day. The stock had hit a 52-week low of Rs 355.40 on 19 September 2016.
The stock had outperformed the market over the past one month till 4 August 2017, advancing 5.34% compared with the Sensex's 3.57% rise. The stock had also outperformed the market over the past one quarter, gaining 30.01% as against the Sensex's 7.3% rise. The scrip had also outperformed the market over the past one year, advancing 53.86% as against the Sensex's 16.64% rise.
The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.
A domestic brokerage expects Tata Steel to report turnaround in bottom line in Q1 June 2017 on a consolidated basis, compared with year ago quarter. Another domestic brokerage expects Tata Steel numbers in Q1 June 2017 to be sequentially weaker due to lower steel prices and higher coking coal costs.
Tata Steel reported consolidated net loss of Rs 1168.02 crore in Q4 March 2017, compared with net loss of Rs 3041.88 crore in Q4 March 2016. The consolidated net sales rose 29.6% to Rs 33424.09 crore in Q4 March 2017 over Q4 March 2016.
Tata Steel is the world's second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.
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