Advertisement

HindustanTimes Thu,28 Aug 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

Rupee recovers 7 paise against dollar in early trade

The rupee recovered by 7 paise to trade at 60.38 against the US dollar in early trade on selling of the American currency by banks and exporters amid sustained foreign capital inflows on Thursday.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved