Meanwhile, the BSE Sensex was up 7.58 points, or 0.04% at 18,652.64.
On BSE, 18.75 lakh shares were traded in the counter as against an average daily volume of 17.54 lakh shares in the past one quarter.
The stock hit a high of Rs 585.40 and a low of Rs 567.95 so far during the day. The stock had hit a 52-week high of Rs 737 on 26 March 2010 and a 52-week low of Rs 434.35 on 4 November 2009.
The large-cap stock had outperformed the market over the past one month till 6 September 2010, rising 8.36% as compared to the Sensexs return of 2.29%. It had also outperformed the market in the past one quarter, gaining 18.73% as compared to the Sensexs return of 8.43%.
The company has an equity capital of Rs 902.21 crore. Face value per share is Rs 10.
Tata Steel group had a net debt of $9.84 billion as at the end 30 June 2010.
Another trigger for the upmove in the Tata Steel counter was a recent price hike. Tata Steel has reportedly raised flat product prices by about Rs 1,000/tonne with effect from 3 September 2010 on account of a pick-up in demand.
Meanwhile, Tata Steel plans to set up a 6 million tonnes steel plant at Kalinganagar in Orissa, and has already placed orders for equipment and services for the project.
On a consolidated basis, Tata Steel reported net profit of Rs 1825.26 crore Q1 June 2010, compared with a massive net loss of Rs 2208.68 crore in Q1 June 2009. Net sales rose 16.5% to Rs 27010.06 crore in Q1 June 2010 over Q1 June 2009.
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