Tata Steel shares jump 3.63% on strong September steel production

Tata Steel’s hot metal production grew by 17% to 3.12 million tonnes (MT) from 2.66 MT in September 2015. 

The company said that its crude steel production rose by 13% to 2.81 MT against 2.50 MT ,a year ago. 

Saleable steel production stood at 2.73 MT, up by 11% yoy and sales increased by 12.44% to 2.62 MT, compared to 2.33 MT prior year.  

Sales and automotive segment of Tata Steel grew by 7% yoy in line with market growth, thereby retaining the leadership position. 

At 2.05 pm, the stock of Tata Steel was trading at Rs 403.45 per share, up Rs 13.70 or 3.63%.