July 9, 2018 / 5:04 AM / in 4 months

BUZZ-Tata Steel gains on strong quarterly sales in India

** Shares of Tata Steel Ltd rise as much as 2.2 pct to 565.7 rupees, in their biggest intraday pct gain since July 2

** Co's Q1 India production up about 8 pct, mainly due to better plant availability at Kalinganagar in Odisha, Tata Steel said on Friday bit.ly/2zgH5vQ

** Quarterly India sales up 8 pct at 2.97 mln tonnes

** Automotive & special products achieved highest ever quarterly sales in India of 557 KT, due to stronger demand and new product approvals, Tata Steel added

** Production in Europe and south-east Asia largely flat at 2.81 mln tonnes and 0.52 mln tonnes

** Stock had fallen 16 pct this year as of Friday

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