Tata Steel shares surge 9% post Q4 earnings

New Delhi: Shares of Tata Steel on Wednesday surged almost 9 percent after the company's consolidated net loss narrowed to Rs 1,168.02 crore for the quarter ended March 31, 2017.

After a positive opening, the stock zoomed 8.71 percent to Rs 496.85 on BSE.

At NSE, shares of the company jumped 8.92 percent to Rs 497.30.

The stock was the top gainer on both Sensex and Nifty in early trade.

Tata Steel's consolidated net loss narrowed to Rs 1,168.02 crore for the quarter ended March 31, 2017, driven by higher revenue from Indian as well as European operations.

The company had posted a consolidated net loss of Rs 3,041.88 crore for the year-ago quarter.

The consolidated revenue from operations increased to Rs 35,304.89 crore in January-March 2017, from Rs 27,071.26 crore in the same quarter of FY2015-16, Tata Steel on Tuesday said in a regulatory filing.