Tata Steel Q3 Update: Steel Production Surges by 8% at 5.29 Million Tonnes

Shares of Tata Steel will remain in focus in today's trading session, as the steel major reported sales of 5.29 million tonnes in India, up 8% as compared to 4.88 million tonnes in the corresponding period last year.

While sales in the Netherlands surged to 1.53 mt (1.30 mt), it fell to 0.56 mt (0.64 mt). Sales in Thailand jumped to 0.28 mt (0.25 mt).

Production in India surged by 6% to 5.68 mt (5.35 mt) in the Netherlands. The company stopped producing steel in the UK as it put down shutters of the existing blast furnace to set up an environment-friendly electric arc furnace, for which it has received approval from the UK government.

The company has begun a production facility at Kalinganagar having a fresh capacity of 5 MTPA. It presently has an operating capacity of 8,000 tonnes per day.

Sales of automotive and special products clocked at 2.3 mt, up 3%.

Tata Tiscon reported a surge in sales of about 20%, while Tata Steelium jumped 7% YoY. Revenue from Tata Steel Aashiyana, an e-commerce platform for Individual Home Builders surged by 37% at ₹2,314 crore.

As of 2:40 pm, shares of Tata Steel are trading at ₹132.57, up 0.61%.