WebSify
Follow us on
Mail
Print

Tata Steel shares fall ahead of Oct-Dec earnings results

Source : REUTERS
Last Updated: Wed, Feb 13, 2013 10:12 hrs
A labourer works at a Tata steel iron godown in the northern Indian city of Chandigarh

Shares in India's Tata Steel Ltd fell as much as 2.5 percent on Wednesday on worries the steel maker will report a October-December net loss later in the day, several traders said.

Tata Steel could post a net loss of 745 million rupees ($13.81 million) versus wider consensus estimates for a 842 million rupees net profit, according to Thomson Reuters StarMine SmartEstimate data, which measures the forecasts from top-ranked analysts against wider forecasts.

Traders said expectations have been lowered in recent sessions, with markets bracing for a potential net loss from Tata Steel.

Tata Steel shares were last down 2.3 percent at 375.8 rupees.


blog comments powered by Disqus
most popular on facebook
talking point on sify finance