The announcement was made during trading hours today, 6 November 2009.

Meanwhile, the BSE Sensex was up 207.97 points, or 1.29%, to 16271.87.

On BSE, 10.66 lakh shares were traded in the counter as against an average daily volume of 29.47 lakh shares in the past one quarter.

The stock hit a high of Rs 507.35 and a low of Rs 491 so far during the day. The stock had hit a 52-week high of Rs 600 on 17 October 2009 and a 52-week low of Rs 146.35 on 26 November 2008.

The stock had outperformed the market over the past one month till 5 November 2009, falling 2.55% as compared to the Sensex 4.76% fall. It outperformed the market in past one quarter, rising 2.46% as against 1.01% rise in the Sensex.

World's sixth largest steel maker by capacity has an equity capital of Rs 887.21 crore. Face value per share is Rs 10.

The current price of Rs 501.75 discounts the company's Q2 September 2009 annualised EPS of Rs 40.70, by a PE multiple of 12.32.

Saleable steel production rose by 27% to 570,000 tonnes and crude steel production gained 22% to 599,000 tonnes in October 2009 over October 2008.

The Indian operations contribute about a quarter of the group's total annual global capacity of 30 million tonnes, which includes Corus, Europe's second-largest steelmaker.

Tata Steel's net profit fell 49.5% to Rs 902.94 crore on a 16.3% decline in sales to Rs 5629.85 crore in Q2 September 2009 over Q2 September 2008.

Tata Steel is an integrated steel producer, which manufactures a variety of steel products. The company's products include steel ball bearing rings, alloy steel bearing rings, annular forgings, flanges, bearings, welded steel tubes, cold rolled strips and seamless tubes. Tata Steel also manufactures metallurgical machinery.

Promoters have pledged 9.78 crore shares or 11.03% stake of Tata Steel. Total promoter shareholding in Tata Steel is 31.18% (As on September 2009).