Tata Steel falls 6% after subsidiary posts Q3 net loss
Shares of Tata Steel took a beating Tuesday after its subsidiary Tata Steel (Thailand) reported a loss of 2.27 billion baht in the three months to Dec 31 compared with a profit of 617 million baht a year earlier.
By ET Bureau |
MUMBAI: Shares of Tata Steel took a beating Tuesday after its subsidiary Tata Steel (Thailand) reported a loss of 2.27 billion baht in the three months to Dec 31 compared with a profit of 617 million baht a year earlier.
The company posted its biggest quarterly loss since 2003. The stock declined the most in over a month in Bangkok and was down by 7.6% to 1.09 baht.
At 12:40 pm, shares of Tata Steel were down 5.19 per cent at Rs 197.40 after falling to a low of Rs 195.30 and recorded volumes of over 17,78,292 shares against two-week average of 34,62,832 shares on the BSE.
The company posted its biggest quarterly loss since 2003. The stock declined the most in over a month in Bangkok and was down by 7.6% to 1.09 baht.
At 12:40 pm, shares of Tata Steel were down 5.19 per cent at Rs 197.40 after falling to a low of Rs 195.30 and recorded volumes of over 17,78,292 shares against two-week average of 34,62,832 shares on the BSE.
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