Tata Steel Shoots up After Solid Q3 Results

Resource from: CBCC Likes:2927

Jan 29,2010

The result was announced during trading hours today, 28 January 2010. Meanwhile, the BSE Sensex was up 27.84 points, or 0.17%, to 16,317.66. On BSE, 32.28 lakh shares were traded in the counter as against an average daily volume of 23.81 lakh shares in the past one quarter. The stock hit a high of Rs 588.40 and a low of Rs 565 so far during the day. The stock had hit a 52-week high of Rs 661.70 on 8 January 2010 and a 52-week low of Rs 148.65 on 6 March 2009. The stock had underperformed the market over the past one month till 27 January 2010, falling 9.27% as compared to the Sensex's 6.17% fall. It outperformed the market in past one quarter, rising 11.45% as against 0.39% decline in the Sensex. The world's sixth largest steel maker by capacity has an equity capital of Rs 887.21 crore. Face value per share is Rs 10. The current price of Rs 586 discounts the company's Q2 September 2009, annualised EPS of Rs 40.70, by a PE multiple of 14.39. Tata Steel's quarterly profit from its Indian operations soared on strong demand from the auto and construction sectors. The Indian operations account for a quarter of the group's annual global capacity of about 30 million tonnes. Tata Steel will report consolidated third-quarter results, to include the Corus numbers, next month. Tata Steel is an integrated steel producer, which manufactures a variety of steel products. The company's products include steel ball bearing rings, alloy steel bearing rings, annular forgings, flanges, bearings, welded steel tubes, cold rolled strips and seamless tubes. Tata Steel also manufactures metallurgical machinery.

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