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Tata Steel rises after results

January 28, 2010

TATASTEEL-RESULTS/

Shares in Tata Steel, the world’s No.8 steelmaker by output, soared over 5 percent in intra-day trade and ended 4.8 percent higher at 585.55 rupees.

The stock, valued at $11.7 billion, nearly trebled last year, easily beating an 81 percent gain on the main index.

The company declared its quarterly results, registering profit for its India operations. Sales jumped 49 percent while net profit rose to 11.92 billion rupees from 4.66 billion rupees a year ago.

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