NEW DELHI: Shares of Tata Steel Ltd. traded 1.19 per cent up in Tuesday ‘s trade at 11:51AM (IST). Around 4819044 shares changed hands on the counter.
The scrip opened at Rs 279.0 and touched an intraday high and low of Rs 279.9 and Rs 273.4 , respectively, in the session so far. Shares of the company quoted a 52-week high of Rs 544.95 and a 52-week low of Rs 250.85 .
CEO and Managing Director T V Narendran has stepped down as President of the Indian Steel Association (ISA) months before the end of his term, according to the steelmaker.
The company reported consolidated sales of Rs 34774.29 crore for the quarter ended 31-Dec-2019 , up 2.42 per cent from previous quarter’s Rs 33953.75 crore and up -14.05 per cent from the year-ago quarter’s Rs 40457.11 crore.
The net profit after tax for the latest quarter stood at Rs -1084.62 crore, $Parser.toNumber($MarketsData-marketResults.quaterlyResults.searchResult.quaterlyDataDetail.percentChangeYearly) per cent from the corresponding quarter last year.
As of 31-Mar-2020 , DIIs held 14.31 per cent stake in the firm , while foreign institutional investors held 12.39 per cent and the promoters 34.41 per cent.
According to BSE data, the stock traded at a P/E multiple of 6.17 and a price-to-book ratio of 0.48 . A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.