TATA STEEL Plunges by 8%; BSE METAL Index Down 6.4%

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TATA STEEL Plunges by 8%; BSE METAL Index Down 6.4%
Mon, 16 Mar 12:32 PM

TATA STEEL share price has plunged 8% and is presently trading at Rs 318.

Meanwhile, the BSE METAL Index is at 6,823 (down 6.4%).

Among the top losers in the BSE METAL Index today are TATA STEEL (down 8.0%) and JSW STEEL (down 8.4%).

Over the last one year, TATA STEEL has moved down from Rs 514 to Rs 318, registering a loss of Rs 196 (down 38.2%)..

The BSE METAL has moved down from 11,144 to 6,823, loss of 4,321 points (down 38.8%) during the last 12 months.

Revealed: 3 Stocks for Potentially Massive Gains

What About the Benchmark Indices?

The BSE Sensex is at 33,103 (down 5.7%).

In the meantime, NSE Nifty is at 9,602 (down 5.5%). YES BANK (up 41.9%) and BAJAJ AUTO (up 0.1%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 37,752 to 33,103, registering a loss of 4,649 points (down 14.79%).

TATA STEEL Financial Update...

TATA STEEL net profit down at Rs 12 billion for the quarter ended December 2019, compared to a loss of Rs 17 billion a year ago. Net Sales declined 13.8% to Rs 355.2 billion during the period as against Rs 412.2 billion in October-December 2018.

For the year ended March 2019, TATA STEEL reported 19.1% increase in net profit to Rs 94.9 billion compared to net profit of Rs 79.6 billion during FY18.

Revenue of the company grew 27.0% to Rs 1,577 billion during FY19.

The current Price to earnings ratio of TATA STEEL, based on rolling 12 month earnings, stands at 59.5x.



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