Tata Group stock jumps 3% after company’s net profit increases by 319% YoY

Synopsis:

The shares of this Tata Group company are in focus after the company announced its Q2 results, which highlighted a robust 319 per cent growth in profit, along with their acquisition of Tata BlueScope Steel Private Limited.

The shares of this company, which was Asia’s first integrated private steel company, set up in 1907, and which has a presence across the entire value chain of steel manufacturing, from mining and processing iron ore and coal to producing and distributing finished products, were in focus due to the company’s robust results and its acquisition of another steel-based company.

With the market cap of Rs 2,27,136 crore, the shares of Tata Steel Ltd jumped 3 per cent and reached a high of Rs 184.20 compared to its previous day close of Rs 178.65. The shares are