Tata Steel is the top trending stock on the news and social media. The stock rose in the morning almost 2.5% to Rs.480.45 and then slipped down to Rs.460.50 thus currently remains in the red.
The company did well in Q3FY19. Its consolidated revenues increased 23%YoY to Rs.41,220 crores; India' revenues recorded 41%YoY growth to Rs.22,063 crores as compared to Rs.15,596 crores in 3QFY18.
Consolidated PAT increased to Rs.1,753 crores as compared to Rs.1,136 crores in 3QFY18.
Its steel production grew 11%YoY to 7.23 mn tons and deliveries increased 7%YoY to 6.99 mn tons.
The liquidity position of the group remains robust at Rs.19,320 crores comprising of Rs.8,549 crores in cash and cash equivalents and Rs.10,771 crores in undrawn bank lines.
Gross debt decreased by Rs.9,083 crores during the quarter.