Published on 12/02/2018 1:00:45 PM | Source: Dion Global Solutions Ltd

Tata Steel jumps 5% as Q3 profit surges

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Shares of Tata Steel jumped over 5 per cent on the Bombay Stock Exchange after the company’s net profit rose five-fold rise in consolidated net profit at Rs 1,135.92 crore for the third quarter ended December 2017, as against Rs 231.90 crore in the previous fiscal. Buoyed by robust Q3, stocks of the company gained as much 5.02 per cent to touch an intra-day high of Rs 718.00 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the firm were trading 4.11 per cent higher at Rs 713.50 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 34,220.40, up 214.64 points, or 0.63 per cent, at 12:40 hours.