Tata Metaliks has rallied 11% to Rs 74.40, extending its Monday’s over 10% gain, after its parent company Tata Steel on Friday signed an Expression of Interest (EoI) with Karnataka government to set up a six million tonnes per annum (MTPA)
Tata Metaliks has surged up to 9% at Rs 70 in late noon trades after reporting a net profit of Rs 14.93 crore for the quarter ended March 2012, against a net loss of Rs 5 lakh in the corresponding quarter of previous fiscal, due to lower raw material
Tata Metaliks today said it had up to 15 days' iron ore inventory to feed the furnaces at its Redi plant in Maharashtra and may have to resort to closure if raw material supply does not get normalised within the next 7-10 days.
Tata Metaliks has slipped 3% to Rs 153 after the company reported a net loss of Rs 0.41 crore on consolidated basis for the third quarter ended September 2010 as compared with a net profit of Rs 10.65 crore in same period of previous fiscal.
Tata Metaliks is trading 9% higher at Rs 130, on reports that the Tata group will invest Rs 7,000 crore in steel plant that the company plans to set up in Hayeri district in Karnataka, with the overall investment in the state pegged at Rs 10,000 crore.