Tata Steel share price gains as India production jumps 53%

Tata Steel share price gains as India production jumps 53%

Tata Steel share price gained over 2 percent intraday on October 9 after the company declared its quarterly business update for Q2 of FY 2020-21.

The steel maker's total production was up 31.3 percent at 7.26 mt against 5.53 mt (QoQ). Total production however was down 3.5 percent at 7.26 mt against 7.52 mt (YoY).

India production grew 2 percent at 4.59 mt against 4.50 mt (YoY) while on a QoQ basis it was up 53.5 percent at 4.59 mt against 2.99 mt.

The stock was trading at Rs 381.65, up Rs 8.10, or 2.17 percent at 09:59 hours. It has touched an intraday high of Rs 386.90 and an intraday low of Rs 375.20.