Tata Steel reports business update for Q2, shares react 

Shares of Tata Steel slipped nearly 3% in early deals even as the Tata Group firm reported updates for the quarter ended September. Tata Steel stock slipped 2.66% to Rs 162.30 against the previous close of Rs 166.75 on BSE. Market cap of the firm fell to Rs 1.06 lakh crore. Total 24.51 lakh shares changed hands amounting to a turnover of Rs 40.49 crore on BSE.

Tata Steel stock has been highly volatile in the last one year with a beta of 1.4. It's trading near the overbought zone with its relative strength index (RSI) at 68.4. An RSI of 70 or above indicates there are more buyers than sellers for the stock. 

The Tata Group stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages indicating that the stock is in bullish zone.

The stock hit its 52 week high of Rs 184.60 on June 18, 2024  and a fell to a 52 week low of Rs 114.25 on November 2, 2023.  

Tata Steel said its crude steel production in India stood at 5.27 million tonne in the second quarter of the current financial year (FY25), an increase from 5.02 million tonne in the year-ago period.

Delivery volumes for Tata Steel India rose 5% to 5.10 million tonne in the last quarter from 4.82 million tonne a year ago.

On a half-year basis, Tata Steel India's crude steel production rose 5% year-on-year to 10.53 million tonne, while deliveries rose by 4% to 10.04 million tonne.

In automotive andspecial products, Tata Steel's quarterly deliveries were marginally lower year-on-year, but half-year deliveries remained stable at 1.6 million tonne.

Regarding branded products and retail, the company's quarterly deliveries grew by 3% year-on-year, led by Tata Tiscon, which achieved its "best-ever" second-quarter sales with a 20% year-on-year rise. Half-year deliveries grew by 4% to 3.3 million tonne.

The company's quarterly deliveries of industrial products and projects rose 4% year-on-year, driven by growth in value-added segments such as engineering. Half-year deliveries remained stable at around 3.6 million tonne.