India's Tata Steel shares fall ahead of Oct-Dec earnings results
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)
- Tweet this
- Share this
- Digg this
The after-glow of Narendra Modi's election victory nearly four months ago is expected to have helped India's lumbering economy register its fastest growth in more than two years for the quarter ending in June. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article
Adani buys Australia coal mine royalty rights from Linc for $145 million Full Article