07 Nov 2024

Tata Steel Turns Profitable in Q2, Shares See Modest Gain

Tata Steel shares are currently trading at Rs. 154.40, marking a rise of 0.80 points or 0.52% from its last closing price of Rs. 153.60 on the BSE. The stock opened at Rs. 156.40, with a day’s high of Rs. 156.80 and a low of Rs. 153.80, and a total of 2,838,974 shares have changed hands so far.

This BSE group ‘A’ stock, with a face value of Rs. 1, hit a 52-week high of Rs. 184.60 on June 18, 2024, and a low of Rs. 118.55 on November 8, 2023. Over the past week, the stock’s high and low were Rs. 156.80 and Rs. 145.10, respectively. Tata Steel’s current market capitalization stands at Rs. 1,93,493.57 crore. The promoter stake in the company is at 33.19%, with institutional and non-institutional holdings at 42.11% and 24.01%, respectively.

For the quarter ending September 30, 2024, Tata Steel posted a net profit of Rs. 3,590.99 crore, reversing a net loss of Rs. 8,490.96 crore from the same period last year. However, the company's total income dropped by 5.05%, down to Rs. 33,250.94 crore from Rs. 35,019.72 crore in Q2FY24.

On a consolidated basis, the firm reported a profit of Rs. 758.84 crore for Q2FY25, compared to a net loss of Rs. 6,511.16 crore in the corresponding period last year. The consolidated total income saw a 2.52% decline to Rs. 54,503.30 crore from Rs. 55,910.16 crore in Q2FY24.