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Tata Steel production up 7% in July-September quarter, stocks up 1%

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Shares of Tata Steel were last trading 1.09 per cent higher at Rs 1,293.60 on BSE

Tata Steel’s share price rose nearly one per cent on Thursday, October 7, a day after the steel major announced that its production grew by seven per cent in the July-September quarter of FY 2021-22. Shares of Tata Steel were trading 1.09 per cent higher at Rs 1,293.60 last time on the BSE. Tata Steel opened at Rs 1,293.05 in the trading session so far, reaching an intraday high of Rs 1,306.45 and intraday low at Rs 1,283.95.

The major steelmaking company reported a growth of 7 per cent in consolidated steel production to 7.78 million tonnes in the second quarter of the current financial year. The company’s consolidated steel production stood at 7.25 million tonnes in the year-ago period.

In India, Tata Steel produced 4.73 million tonnes of steel in the September quarter, as against 4.59 million tonnes in the year-ago quarter, according to a regulatory filing by the company to the stock exchanges. Sales in the country stood at 4.64 million tonnes as against 5.05 million tonnes in the corresponding quarter last year.

Shares of Tata Steel were trading at Rs 1,292.72 on the NSE, up one per cent. Tata Steel opened at Rs 1,295 on the NSE, registering an intraday high of Rs 1,306.80 and an intraday low of Rs 1,283.55 in the session so far.

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