MUMBAI Feb 13 (Reuters) - 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 at 0937 GMT ($1 = 53.9300 Indian rupees) (Reporting by Manoj Dharra and Abhishek Vishoi; Editing by Rafael Nam)
Trending On Reuters
Markets & Business
The BSE Sensex and Nifty slumped more than 2 percent on Wednesday to wipe out their entire gains for the year because of strong selling on algorithmic trading platforms, while continued offloading by foreign investors amid retrospective tax worries also weighed. Full Article
Greenpeace faces shutdown after India freezes funds in charity crackdown Full Article