Tata Steel Plunges 10%; BSE METAL Index Down 7.0%
Mon, 7 Apr 9:35
Image source: Nikada/www.istockphoto.comTata Steel share price has plunged 10% and is presently trading at Rs 126.2.
Meanwhile, the BSE METAL index is at 26,452.2 (down 7.0%).
Among the top losers in the BSE METAL index today are Hindalco (down 7.3%) and SAIL (down 7.2%).
Over the last one year, Tata Steel has moved down from Rs 163.6 to Rs 126.2, registering a loss of Rs 37.4 (down 22.9%).
On the other hand, the BSE METAL index has moved down from 29,551.0 to 26,452.2, registering a loss of 10.5% during the last 12 months.
The top losers among the BSE METAL index stocks during this same period were SAIL (down 29.5%), Tata Steel (down 22.9%) and Coal India (down 17.6%).
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What About the Benchmark Indices?
The BSE Sensex is at 72,818.6 (down 3.4%).
The top losers among the BSE Sensex today are Tata Motors (down 8.4%) and Tech Mahindra (down 6.6%). The most traded stocks in the BSE Sensex are Tata Steel and ZOMATO.
In the meantime, NSE Nifty is at 22,041.9 (down 3.8%). Trent and Tata Motors are among the top losers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved down from 73,876.8 to 72,818.6, registering a loss of 1,058.2 points (down 1.4%).
Tata Steel Financial Update...
Tata Steel net profit fell 44.6% YoY to Rs 2,485 million for the quarter ended December 2024, compared to a profit of Rs 4,487 million a year ago. Net sales declined 3.0% to Rs 536,483 million during the period as against Rs 553,119 million in October-December 2023.
For the year ended March 2024, Tata Steel reported 160.8% decrease in net profit to Rs -49,096 million compared to net profit of Rs 80,754 million during FY23. Revenue of the company fell 5.8% to Rs 2,291,708 million during FY24.
The current Price to earnings ratio of Tata Steel, based on rolling 12 month earnings, stands at 66.3.
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