/ Tata Steel Soars On Fund Raising Proposal ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 18 April 2017


Shares of Indian multinational steel-making company headquartered in Mumbai, Tata Steel Ltd., soared 2.5% as the company said that its board meeting will be held on April 20, 2017 to consider a proposal for fund raising.

The stock had hit a 52-week high of Rs 508.45 on March 17, 2017; and a 52-week low of Rs 297.40 on June 24, 2016. The stock has delivered over 40% returns in a period of one year on the NSE, outperforming the BSE Sensex and underperforming the BSE Metal indices over the same time span.

The scrip had also underperformed the market over the past one quarter, advancing 1.73% as against the Sensex's 8% rise.

Tata Steel on consolidated basis in Q3 December 2016 reported net profit of Rs 231.90 crore as compared with net loss of Rs 2747.72 crore in Q3 December 2015.

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