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India's Tata Steel shares fall ahead of Oct-Dec earnings results
February 13, 2013 / 9:53 AM / 5 years ago

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)

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