TATA STEEL Surges by 5%; BSE METAL Index Up 3.4%

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TATA STEEL Surges by 5%; BSE METAL Index Up 3.4%
Tue, 17 Mar 09:46 AM

TATA STEEL share price has zoomed 5% and is presently trading at Rs 308.

Meanwhile, the BSE METAL Index is at 6,598 (up 3.4%).

Among the top Gainers in the BSE METAL Index today are TATA STEEL (up 5.4%) and JINDAL STEEL & POWER (up 5.3%).

Over the last one year, TATA STEEL has moved down from Rs 525 to Rs 308, registering a loss of Rs 217 (down 41.8%).

On the other hand, the BSE METAL has moved down from 11,313 to 6,598, loss of 4,715 points (down 42.0%) during the last 12 months.

The top gainers among the BSE METAL Index stocks during this same period were [param_historic_top3].

Read Now: When the Dust Settles, This Stock Would Have Potentially Created Millionaires

What About the Benchmark Indices?

The BSE Sensex is at 31,832 (up 0.4%).

The top gainers among the BSE Sensex stocks today are TATA STEEL (up 5.4%), INDUSIND BANK (up 4.9%) and ONGC (up 3.8%). Other gainers include SUN PHARMA (up 3.5%) and MARUTI SUZUKI (up 2.9%). The most traded stocks in the BSE Sensex are ITC and SBI.

In the meantime, NSE Nifty is at 9,315 (up 0.8%). The top gainers in the NSE Nifty include YES BANK (up 30.3%), ADANI PORTS & SEZ (up 5.1%) and TATA STEEL (up 4.8%). Other gainers include VEDANTA LTD (up 4.7%) and SUN PHARMA (up 4.5%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,095 to 31,832, registering a loss of 6,263 points (down 17.29%).

TATA STEEL Financial Update...

TATA STEEL net profit down at Rs 12 billion for the quarter ended December 2019, compared to a loss of Rs 17 billion a year ago. Net Sales declined 13.8% to Rs 355.2 billion during the period as against Rs 412.2 billion in October-December 2018.

For the year ended March 2019, TATA STEEL reported 19.1% increase in net profit to Rs 94.9 billion compared to net profit of Rs 79.6 billion during FY18.

Revenue of the company grew 27.0% to Rs 1,577 billion during FY19.

The current Price to earnings ratio of TATA STEEL, based on rolling 12 month earnings, stands at 60.7x.



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