International BusinessSales numbers boost Tata Steel
Tata Steel has ended at Rs 568, higher by Rs 11 or 2.1%, on the BSE. The stock opened at Rs 555, which was also the day"s low, and a high of Rs 570 during the day.
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A total of 1,381,697 shares were traded on the BSE as against the two-week average of 2,824,642 shares.
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(Updated at 1036am)
Tata Steel has moved up on the back of a robust 35 per cent rise in sales to 4.98 lakh tonne in November. The stock is trading at Rs 566, higher by Rs 10 or 1.8%, on the BSE.
Tata Steel had recorded sales of 3.70 lakh tonne in the same month last year.
The steel major said in the reporting month there was 56 per cent increase in flat steel products sale and 13 per cent in the sales of long steel products. However, the company did not give out any details on the volume of these products.
Flat steel products are primarily consumed by automobile and whitegoods sectors, while long steel is used mainly by infrastructure firms.