Shares of Tata Steel Ltd fell nearly 5 percent on Friday after the company's quarterly report failed to please investors. The shares fell 4.58 percent to Rs 215.25 on the Bombay Stock Exchange (BSE).
On the New York Stock Exchange, the company's shares fell 4.56 percent to Rs 215.10.
Tata Steel Ltd on Thursday reported a 22 percent rise in consolidated net income for the quarter.
Nonetheless, sales fell 18 percent, and the sharp rise in profits was mainly driven by the sale of Tata Motors shares.
While Tata Steel's Indian divisions reported strong growth in production and supply, the situation in European plants - particularly in the UK - has deteriorated significantly.
The UK branch of Tata Steel has depreciated by $ 1.3 billion and the prospects for its profitability and overall performance are very vague.
Investors did not believe in Tata Steel: the company's shares fell by 5 percent
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Azovpromstal® 6 November 2015 г. 11:52 |
