Tata Steel witnessed a rise in share price on Tuesday after the company has reported a 27% increase in Q3FY17 sales to 2.9 million tonne (MT) compared to 2.3 MT in Q3 FY16. On a sequential basis, the company saw sales jump 14% in the third quarter this year over Q2FY17 due to ramp up in capacity at Kalinganagar.
The company's quarterly sales performance was boosted by a 20% increase (year on year) in auto grade steel, a 13% rise in branded products sales and a 37% jump in value added products.
Shares of Tata Steel are trading at Rs 428.70, up Rs 6.65, or 1.58% at the Bombay Stock Exchange (BSE) on Tuesday at 9:55 a.m.
The scrip has touched an intra-day high of Rs 430 and low of Rs 422.80. The total volume of shares traded at the BSE is 231,698.
Total volume of shares traded on the bourses today was lower by 69.18% to 1,430,622 compared with 22-day average volume of 4,642,522.