Tata Steel rose 2.64% to Rs 298.85 at 14:32 IST on BSE, with the stock recovering on bargain hunting after recent slide.
Meanwhile, the S&P BSE Sensex was up 106.62 points or 0.54% at 19,962.86.
On BSE, 7.59 lakh shares were traded in the counter as against average daily volume of 12.39 lakh shares in the past one quarter.
The stock hit a high of Rs 301.45 and a low of Rs 290 so far during the day. The stock had hit a 52-week high of Rs 448.10 on 7 January 2013. The stock had hit a 52-week low of Rs 195.40 on 7 August 2013.
The stock had underperformed the market over the past one month till 25 September 2013, gaining 3.15% compared with the Sensex's 7.22% rise. The scrip had, however, outperformed the market in past one quarter, jumping 9.23% as against Sensex's 6.59% rise.
The large-cap steel major has equity capital of Rs 971.21 crore. Face value per share is Rs 10.
Shares of Tata Steel had declined 6.2% in four trading sessions to settle at Rs 291.15 on Wednesday, 25 September 2013, from a recent high of Rs 310.40 on 19 September 2013.
Tata Steel on 19 September 2013 announced a new leadership structure and a series of executive appointments, as part of its drive to accomplish its strategic business objectives. The board of Tata Steel has appointed Mr. T V Narendran as MD Designate, India and South East Asia and has inducted him as Additional Director on the Board. On reaching superannuation on 31 October 2013, Mr. H M Nerurkar, MD Tata Steel India and South East Asia will step down from the Board of Tata Steel and will be succeeded by Mr. T V Narendran from 1 November 2013. Mr. Narendran is currently VP (Safety & Flat Products) Tata Steel.
The board has also appointed Mr. Koushik Chatterjee, ED and Group CFO as the Group Executive Director (Finance and Corporate). In addition to maintaining responsibility for the company's finance function, Mr. Chatterjee will be responsible for the Tata Steel Group Corporate functions including Legal and Regulatory Affairs, Corporate Communications, Strategic Procurement, Information Systems, Group Investments, Global Mining Projects and Assurance.
The Board has put in place appropriate governance process to ensure a smooth transition of leadership. With effect from 1 November 2013, Dr Karl Koehler, MD & CEO, Tata Steel Europe, Mr. TV Narendran, MD Tata Steel India and South East Asia, and Mr. Koushik Chatterjee Group, Executive Director (Finance and Corporate), will report to the Chairman and the Board of Tata Steel. The new leadership team will be responsible for defining the overall direction and strategy for Tata Steel across both its emerging and developed markets.
Tata Steel's consolidated net profit jumped 90.5% to Rs 1139.01 crore on 3% decline in net sales to Rs 32550.21 crore in Q1 June 2013 over Q1 June 2012.
Tata Steel is a top ten global steel maker and the world's second most geographically diversified steel producer.
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