Tata Steel Shares Fall 3% After Q2 Results; Brokers Cautious on UK Growth
Tata Steel shares fell as much as 3% to an intraday low of Rs 184.34 despite consolidated net profit rising 16% year on year in the September quarter. The report says brokerages raised concerns about growth in the company’s UK operations.
Shares of Tata Steel plunged as much as 3 percent to an intraday low of Rs 184.34 apiece even as the company posted 16 percent year-on-year rise in consolidated net profit in the September quarter, driven by higher revenues, mainly from India operations. Brokerages, however, raised concern about sh…