Diplomacy
Chinese Premier Li Keqiang seeks trust in India as border issue continues to irk
Chinese Premier Li Keqiang is seeking to build trust with India on his first foreign trip since taking office, which comes just a few weeks after a military standoff between the Asian giants on their ill-defined border in the Himalayan mountains. Full Article | Slideshow
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Tata Steel Q3 net loss widens, misses estimates
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
A man walks through the Corus steel factory in Ijmuiden in this April 4, 2006 file photo.
Credit: Reuters/United Photos/Files
MUMBAI |
MUMBAI (Reuters) - Tata Steel (TISC.NS) posted its second straight quarterly loss on Wednesday, as weak demand and prices in its main European market squeezed margins.
Tata, which operates nearly two-thirds of its 28-million-tonne capacity in Europe, reported a worse-than-expected net loss of 7.6 billion rupees for the three months to December 31. Net sales fell 3 percent to 318.21 billion rupees.
Analysts on average had expected the company to report a net loss of 745 million rupees for the December quarter, according to Thomson Reuters StarMine Smart Estimate data.
The net loss for the quarter compared with a loss of 6 billion rupees a year earlier.
Shares in Tata Steel, valued at $6.9 billion, closed down 2.3 percent ahead of the results announcement.
(Reporting by Prashant Mehra; Editing by Anand Basu)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters