Tata Steel jumps 2 pc on BSE after product price hike

Steel major Tata Steel surged by nearly 2 per cent on the BSE on Monday, a day after the company increased product prices by up to Rs 1,500 per tonne.

Steel major Tata Steel surged by nearly 2 per cent on the BSE on Monday, a day after the company increased product prices by up to Rs 1,500 per tonne.

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Shares of Tata Steel rose by 1.89 per cent to a one-month high of Rs 680.40 during early trade on the Bombay Stock Exchange.

The scrip witnessed a similar uptrend on the National Stock Exchange, gaining 1.45 per cent to Rs 677.45 vis-a-vis the previous close.

Shares of other steel companies also started the day on a positive note, with Hindalco soaring 1.59 per cent to a one-month high of Rs 207.50 and Jindal Steel jumping 1.54 per cent to a four-week high of Rs 742.85.

However, defying the trend, copper producer Sterlite Industries was down by 0.94 per cent at Rs 173.70.

Meanwhile, the BSE benchmark Sensex was up 236.34 points at 20,697.52.