Tata Steel puts up a star show; shares down
The fourth quarter of 2012-13 has turned to be a blockbuster quarter for the steel major Tata Steel with the company recording a 25-29 per cent growth in hot metal, crude steel and saleable steel production and in total sales in terms of volume.
Even on an annual basis, 2012-13 turned out to be the best year for the company in terms of production and sales as the company registered its best ever show on all the above parameters, with an identical increase of 14 per cent in production of all the three and a 13 per cent increase in sales, Tata Steel said in a statement to the stock exchanges.However, the performance failed to fire up the stocks, considerably down at the NSE due to a downturn in market sentiment. The company completed the financial year ending March 31, 2013, with an "overall increase in production and sales volumes and "registered its best ever performance in hot metal, crude steel, saleable steel production and total sales".In Q4 of last year, hot metal production was up by 25 per cent to 24,58,000 tonne compared to 19,59,000 tonne in the same quarter in 2011-12. Crude steel production was up by 26 per cent at 22,98, 000 tonne (from 18,30,000 tonne).