Cairn India and Tata Steel gains on good quarterly numbers

Cairn India and Tata Steel gains on good quarterly numbers
Cairn India Ltd (CIL) and Tata Steel noticed growth in their respective quarterly net profits today. CIL witnessed a growth by 4.06% which touch an early rise of its shares on the BSE to Rs 351.85, while on the NSE, the stock went up by 4.05% to Rs 351.80.

Cairn India Ltd (CIL) received profit on the basis of higher crude oil prices and consistent performance with the help of a 10-fold jump in quarterly net profit at the nation's biggest onshore oilfield in Rajasthan. The company"s consolidated net profit in the fourth quarter till March went to Rs 2,457.79 crore from Rs 245.19 crore.

NSE noticed high of Rs 579.80 in the shares of Tata steels which rose by 3.25% and a rise of 3.33% on BSE which was followed by the initial gain at Rs.579.90, also the company witnessed a 71.61% increase in consolidated net profit to Rs 4,177.14 crore for the quarter which ended in March followed by a Rs 2,434 crore net profit in the last quarter fiscal year.

Over 18 lakh shares of Cairn India and over 36 lakh shares of Tata Steel were traded in the morning on the stock exchange.

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