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 rupee rose to a five-week high against the dollar and stocks jumped more than 1.5 percent to near record highs on Thursday as exit polls predicted a strong showing for the key opposition party in recent state elections. Full Article
Chinese, Indian manufacturers help emerging market business growth in Nov - HSBC. Full Article