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Tata Steel Output Grows 7% In July-September Quarter, Stock Gains 1%

Shares of Tata Metal have been final buying and selling 1.09 per cent increased at Rs 1,293.60 on the BSE

Share value of Tata Metal gained round one per cent on Thursday, October 7, a day after the metal main introduced that its output grew seven per cent within the July-September quarter of the monetary yr 2021-22. Shares of Tata Metal have been final buying and selling 1.09 per cent increased at Rs 1,293.60 on the BSE. Tata Metal opened at Rs 1,293.05, edging to an intra day excessive of Rs 1,306.45 and an intra day low of Rs 1,283.95, within the buying and selling session to date. 

The main metal manufacturing firm reported a seven per cent rise in consolidated metal output to 7.78 million tonnes within the second quarter of the present fiscal. The corporate’s consolidated metal manufacturing within the year-ago interval stood at 7.25 million tonnes.

In India, Tata Metal produced 4.73 million tonnes of metal within the September quarter, in comparison with 4.59 million tonnes within the year-ago quarter, in line with a regulatory submitting by the corporate to the inventory exchanges. Gross sales within the nation stood at 4.64 million tonnes, in comparison with 5.05 million tonnes within the corresponding quarter final yr.

Tata Metal’s metal manufacturing and gross sales volumes in Southeast Asia declined by 17 per cent and 5 per cent quarter-on-quarter, respectively, as a consequence of CLOVID-19 lockdown restrictions in Thailand and Malaysia.

On the NSE, shares of Tata Metal have been final buying and selling one per cent increased at Rs 1,292.72 apiece. Tata Metal opened on the NSE at Rs 1,295, registering an intra day excessive of Rs 1,306.80 and an intra day low of Rs 1,283.55, within the session to date. 

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