Advertisement

HindustanTimes Wed,24 Sep 2014

Tata Steel surges; Jan-March operating profit beats estimates

Reuters  Mumbai, May 24, 2013
First Published: 10:07 IST(24/5/2013) | Last Updated: 10:10 IST(24/5/2013)

Tata Steel Ltd shares rose more than 5% on Friday after its January-March quarterly operating profit beat analyst estimates.

Advertisement

Brokerage IDFC estimated Tata Steel posted an adjusted standalone operating profit of Rs. 33 billion in the previous quarter, compared to its forecast of Rs. 27.6 billion.

Tata Steel shares gained even as it posted a bigger-than-expected net loss, following a writedown.

Shares at the steel maker were up 5.4% as of 0347 GMT.


Advertisement
more from Business

Future Group to foray into food manufacturing

Amid debt challenges and margin pressures in the retail sector, Future Group’s foray into food manufacturing will kick-start with Modi inaugurating the first of its three mega food parks in Tumkur, near Bangalore, on Wednesday.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved