Shares of Tata Steel Long Products hit a fresh 52-week high of Rs 810, zooming 13 per cent on the BSE on Friday, after the company reported a consolidated net profit of Rs 304 crore for the quarter ended December 2020 (Q3FY21), on the back of strong operational performance. The Tata group company had posted a consolidated a net loss of Rs 112 crore in December 2019 quarter (Q3FY20). The company s revenue from operations grew 37 per cent YoY at Rs 1,364 crore as against Rs 999 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin stood at 30.06 per cent in Q3FY21.
Read more about Tata Steel Long Products spurts after turnaround Q3 numbers on Business Standard. Tata Steel Long Products surged 11.11% to Rs 796.15 after the company reported a consolidated net profit of Rs 304.40 crore in Q3 FY21 compared with net loss of Rs 112.19 crore in Q3 FY20.
Read more about Sensex tanks 549 pts, Nifty closes below 14,450 mark; IT shares drag on Business Standard. Domestic equity benchmarks declined sharply on Friday, led by broader selling pressure. IT, pharma and PSU banks declined sharply. Rising coronavirus cases across US, Europe and China weighed on investors sentiment. Global cues were negative as
The domestic equity market corrected sharply on Friday, led by broader selling pressure. IT, pharma and PSU banks declined sharply. Rising coronavirus cases across US, Europe and China weighed on investors sentiment.
As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 549.49 points or 1.11% to 49,034.67. The Nifty 50 index lost 161.90 points or 1.11% at 14,433.70.
In the broader market, the S&P BSE Mid-Cap index fell 1.18%. The S&P BSE Small-Cap index skid 0.97%.
Sellers outpaced buyers. On the BSE, 1088 shares rose and 1936 shares fell. A total of 139 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 9,31,05,607 with 19,94,440 deaths. India reported 2,13,027 active cases of COVID-19 infection and 1,51,918 deaths while 1,01,62,738 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
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