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Tata Steel Gains 5%; BSE METAL Index Up 2.9%
Tue, 24 Sep 14:33

Tata Steel Gains 5%; BSE METAL Index Up 2.9%Image source: Nikada/www.istockphoto.com

Tata Steel share price has zoomed 5% and is presently trading at Rs 161.2.

Meanwhile, the BSE METAL index is at 33,115.0 (up 2.9%).

Among the top gainers in the BSE METAL index today are NMDC (up 4.4%) and Vedanta (up 4.1%).

Over the last one year, Tata Steel has moved up from Rs 128.3 to Rs 161.2, registering a gain of Rs 32.9 (up 25.6%).

On the other hand, the BSE METAL index has moved up from 22,980.9 to 33,115.0, registering a gain of 44.1% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 103.5%), Coal India (up 77.5%) and Hindustan Zinc (up 61.0%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 85,071.7 (up 0.2%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 2.7%) and Tech Mahindra (up 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 25,973.4 (up 0.1%). Hindalco and Power Grid Corp. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 85,071.7, registering a gain of 18,270.9 points (up 27.4%).

Tata Steel Financial Update...

Tata Steel net profit grew 3.8% YoY to Rs 8,261 million for the quarter ended June 2024, compared to a profit of Rs 7,961 million a year ago. Net sales declined 7.9% to Rs 547,714 million during the period as against Rs 594,897 million in April-June 2023.

For the year ended March 2024, Tata Steel reported 160.8% decrease in net profit to Rs -49,096 million compared to net profit of Rs 80,754 million during FY23. Revenue of the company fell 5.8% to Rs 2,291,708 million during FY24.

The current Price to earnings ratio of Tata Steel, based on rolling 12 month earnings, stands at -41.7.

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