Tata Steel Long Products falls on reporting net loss of Rs 237 crore in Q3FY23
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Tata Steel Long Products is currently trading at Rs. 710.45, down by 2.95 points or 0.41% from its previous closing of Rs. 713.40 on the BSE.
The scrip opened at Rs. 690.15 and has touched a high and low of Rs. 726.25 and Rs. 690.15 respectively. So far 5006 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 849.90 on 11-Apr-2022 and a 52 week low of Rs. 532.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 734.05 and Rs. 690.15 respectively. The current market cap of the company is Rs. 3200.07 crore.
The promoters holding in the company stood at 74.91%, while Institutions and Non-Institutions held 4.94% and 20.13% respectively.
Tata Steel Long Products has reported results for third quarter ended December 31, 2022.
The company has reported net loss of Rs 236.93 crore for Q3FY23 as compared to net profit of Rs 103.88 crore for the corresponding quarter previous year. However, total income of the company increased by 15.73% to Rs 1,952.41 crore for the quarter under review as compared to Rs 1,686.98 crore for the same quarter in the previous year.
Tata Steel Long Products is one of India’s largest merchant sponge iron manufacturers. The company is engaged in the production of sponge iron by direct reduction method of iron ore and power generation from waste heat.
