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
- UPDATE 3-U.S. regulator questions Verizon plan to slow data speeds for some
- U.S. resupplies Israel with munitions as Gaza offensive rages
- Landslide near Pune kills 10, scores feared trapped
- Drew Barrymore's half-sister found dead in car near San Diego
- England have Cook to thank for winning position - Root
A group of World Trade Organization (WTO) members has informally discussed adopting a global overhaul of customs rules without India if New Delhi goes ahead with threats to block the deal, sources familiar with the talks said on Thursday. Full Article