Tata Steel fell 0.97% to Rs 453.35 at 9:45 IST on BSE after the company said that its saleable steel production rose 0.31% to 2.21 million tonnes in Q2 September 2014 over Q2 September 2013.
The company made the announcement after market hours on Monday, 13 October 2014.
Meanwhile, the BSE Sensex was up 18.78 points, or 0.07%, to 26,402.65.
On BSE, so far 1.16 lakh shares were traded in the counter, compared with an average volume of 7.83 lakh shares in the past one quarter.
The stock hit a high of Rs 461.40 and a low of Rs 451 so far during the day. The stock hit a 52-week high of Rs 578.60 on 9 June 2014. The stock hit a 52-week low of Rs 301 on 14 October 2013.
The stock had underperformed the market over the past one month till 13 October 2014, falling 11.46% compared with Sensex's 2.5% decline. The scrip had also underperformed the market in past one quarter, declining 8.61% as against Sensex's 5.43% rise.
The large-cap company has an equity capital of Rs 971.21 crore. Face value per share is Rs 10.
Tata Steel's hot metal production rose 4.78% to 2.58 million tonnes in Q2 September 2014 over Q2 September 2013. Crude steel production declined 0.91% to 2.26 million tonnes in Q2 September 2014 over Q2 September 2013. Tata Steel's steel deliveries rose 3.53% to 2.11 million tones in Q2 September 2014 over Q2 September 2013.
On a consolidated basis, Tata Steel's net profit fell 70.4% to Rs 337.33 crore on 11% growth in net sales to Rs 36143.27 crore in Q1 June 2014 over Q1 June 2013. The company said the net profit was affected by exceptional charges of Rs 262 crore in Q1 June 2014.
Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum. It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. Tata Steel's larger production facilities comprise those in India, the UK, the Netherlands, Thailand, Singapore, China and Australia.
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