LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Tata Steel jumps 2% on strong quarterly sales in India

Tata Steel's production stood at 2.94 mt and sales at 2.75 mt in the same period last year, and at 3.07 mt and 3.03, respectively, in the March quarter this year.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Tata Steel jumps 2% on strong quarterly sales in India
Tata Steel share price gained as much as 2.2 per cent to Rs 565.80. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Mon, Jul 09, 2018
04:14 pm
ZeeBiz WebDesk
RELATED NEWS
In chat with Anil Singhvi, analyst Vikas Sethi picks Tata Steel, Torrent Pharma as top buys; Know what stands out for them In chat with Anil Singhvi, analyst Vikas Sethi picks Tata Steel, Torrent Pharma as top buys; Know what stands out for them
Tata Steel share price falls over 3%: Details explained Tata Steel share price falls over 3%: Details explained
Tata Steel, JSW Steel, SAIL to Jindal Steel - Important trend sighted, check impact Tata Steel, JSW Steel, SAIL to Jindal Steel - Important trend sighted, check impact
CLSA on Tata Steel and Hindalco: Steel mills likely to report robust EBITDA/t increase, better Q4 outlook CLSA on Tata Steel and Hindalco: Steel mills likely to report robust EBITDA/t increase, better Q4 outlook
Tata Steel share price: Edelweiss retain positive stance with target price of Rs 750 Tata Steel share price: Edelweiss retain positive stance with target price of Rs 750

Tata Steel rose over 2 per cent on Monday after the steel major reported 7.82 per cent rise in domestic production at 3.17 million tonne and 8 per cent increase in sales at 2.97 mt in the June quarter. The stock gained as much as 2.2 per cent to Rs 565.80 on the BSE in intraday trade, but settled at Rs 556.85, up 0.5 per cent. The stock has corrected over 20 per cent so far in 2018. 

Tata Steel's production stood at 2.94 mt and sales at 2.75 mt in the same period last year, and at 3.07 mt and 3.03, respectively, in the March quarter this year.

"Q1 FY19 production is higher than Q4 FY18 mainly due to better plant availability at Kalinganagar," the company said while announcing the provisional production and sales figures for the June quarter.

Automotive and special products has achieved highest ever quarterly sales of 557 kilo tonne (kt) in Q1 FY19 due to stronger demand and new product approvals, a release said.

Branded products and retail business has achieved highest ever Q1 sales of 975 kt, registering a year-on-year growth of 12 per cent, compared with 873 kt in Q1 FY18.

Overall engineering segments have also registered 70 per cent growth with 97 kt sales in Q1 FY19, against 57 kt sales in Q1 FY18, it said.

Tata Steel Europe, however, reported marginal jump in production at 2.81 mt in the June quarter, against 2.79 mt in the year-ago period, due to improved plant availability.

WATCH ZEE BUSINESS VIDEO HERE 

Sales also increased from 2.40 mt in Q1 FY18 to 2.43 mt in Q1 FY19, while deliveries were marginally better in spite of the action under Section 232 by the US which created some uncertainty, the company said.

Its South East Asia unit reported production of 0.53 mt in Q1 FY19, against 0.50 mt in the same period last year, while the sales stood flat at 0.60 mt.

The company attributed lower production to planned annual shutdowns at Tata Steel Thailand.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Tata Steel
RELATED NEWS
In chat with Anil Singhvi, analyst Vikas Sethi picks Tata Steel, Torrent Pharma as top buys; Know what stands out for them In chat with Anil Singhvi, analyst Vikas Sethi picks Tata Steel, Torrent Pharma as top buys; Know what stands out for them
Tata Steel share price falls over 3%: Details explained Tata Steel share price falls over 3%: Details explained
Tata Steel, JSW Steel, SAIL to Jindal Steel - Important trend sighted, check impact Tata Steel, JSW Steel, SAIL to Jindal Steel - Important trend sighted, check impact
CLSA on Tata Steel and Hindalco: Steel mills likely to report robust EBITDA/t increase, better Q4 outlook CLSA on Tata Steel and Hindalco: Steel mills likely to report robust EBITDA/t increase, better Q4 outlook
Tata Steel share price: Edelweiss retain positive stance with target price of Rs 750 Tata Steel share price: Edelweiss retain positive stance with target price of Rs 750

LATEST NEWS

On Women's day, top stocks to buy for bumper returns are Titan, Avenue Supermarts, Bata India

Asus ROG Phone 5 set to launch in India on March 10: Here's all you need to know

Meghan tears into royal family in Oprah interview

Petrol-diesel rates, LPG cylinder price hike! Rs 21 lakh crore collected from excise duty, cess, Mallikarjun Kharge reveals

Easy Trip Planners IPO open for subscription, Anand Rathi says buy

GST Taxpayers' alert: CBIC issues deadline! File your return before THIS date to avoid late fee and interest

Yes Bank and SBI share price: Check what just happened to targets of these lenders

Premier League: Surprise! United wins Manchester derby

On Women's Day, don't fall for this WhatsApp scam | Check NOW

SBI Pension Loan: Former Central and state government employees, defence pensioners or family pensioners, this scheme tailor made for you; check interest rate

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved