Tata Steel shares in news today as net profit surges in Q1
Tata Steel shares ended at Rs 169.75 on July 31. Market cap of the firm stood at Rs 2.06 lakh crore.
- Aug 1, 2024,
- Updated Aug 1, 2024 9:08 AM IST
Shares of Tata Steel are in focus on Thursday after the Tata Group firm reported a 51 percent rise in consolidated net profit for the June 2024 quarter. Net profit climbed to Rs 960 crore in Q1 against a net profit of Rs 634 crore in the year-ago period. Net profit in the March 2024 quarter stood at Rs 611.48 crore.
Tata Steel shares ended at Rs 169.75 on July 31. Market cap of the firm stood at Rs 2.06 lakh crore. Total 17.56 lakh shares changed hands amounting to a turnover of Rs 28.94 crore on BSE.
Tata Steel stock has a one-year beta of 1.4, signaling high volatility during the period. In terms of technicals, the relative strength index (RSI) of Tata Steel stood at 46.8, signaling it's trading neither in the overbought nor in the oversold zone.
Tata Steel shares have rallied 34.27% in a year and risen 18% in 2024.
Revenue from operations fell 8 percent to Rs 54,771 crore in Q1 against Rs 59,490 crore in Q1FY24. In the March 2024 quarter, sales came at Rs 58,687 crore. However, EBITDA in Q1 rose 11.4% at Rs 6,822 crore. EBITDA in Q4 came at Rs 6,631 crore.
Shares of Tata Steel are in focus on Thursday after the Tata Group firm reported a 51 percent rise in consolidated net profit for the June 2024 quarter. Net profit climbed to Rs 960 crore in Q1 against a net profit of Rs 634 crore in the year-ago period. Net profit in the March 2024 quarter stood at Rs 611.48 crore.
Tata Steel shares ended at Rs 169.75 on July 31. Market cap of the firm stood at Rs 2.06 lakh crore. Total 17.56 lakh shares changed hands amounting to a turnover of Rs 28.94 crore on BSE.
Tata Steel stock has a one-year beta of 1.4, signaling high volatility during the period. In terms of technicals, the relative strength index (RSI) of Tata Steel stood at 46.8, signaling it's trading neither in the overbought nor in the oversold zone.
Tata Steel shares have rallied 34.27% in a year and risen 18% in 2024.
Revenue from operations fell 8 percent to Rs 54,771 crore in Q1 against Rs 59,490 crore in Q1FY24. In the March 2024 quarter, sales came at Rs 58,687 crore. However, EBITDA in Q1 rose 11.4% at Rs 6,822 crore. EBITDA in Q4 came at Rs 6,631 crore.