Share price of Tata Steel gained around one per cent on Thursday, October 7, a day after the steel major announced that its output grew seven per cent in the July-September quarter of the financial year 2021-22. Shares of Tata Steel were last trading 1.09 per cent higher at Rs 1,293.60 on the BSE. Tata Steel opened at Rs 1,293.05, edging to an intra day high of Rs 1,306.45 and an intra day low of Rs 1,283.95, in the trading session so far.
The leading steel manufacturing company reported a seven per cent rise in consolidated steel output to 7.78 million tonnes in the second quarter of the current fiscal. The company's consolidated steel production in the year-ago period stood at 7.25 million tonnes.
In India, Tata Steel produced 4.73 million tonnes of steel in the September quarter, compared to 4.59 million tonnes in the year-ago quarter, according to a regulatory filing by the company to the stock exchanges. Sales in the country stood at 4.64 million tonnes, compared to 5.05 million tonnes in the corresponding quarter last year.
Tata Steel's steel production and sales volumes in Southeast Asia declined by 17 per cent and five per cent quarter-on-quarter, respectively, due to CLOVID-19 lockdown restrictions in Thailand and Malaysia.
On the NSE, shares of Tata Steel were last trading one per cent higher at Rs 1,292.72 apiece. Tata Steel opened on the NSE at Rs 1,295, registering an intra day high of Rs 1,306.80 and an intra day low of Rs 1,283.55, in the session so far.