Tata Steel today hit a 52-week low as CLSA downgraded the stock to sell. Shares in Tata Steel plunged to a 52-week low of Rs 255.25 on the National Stock Exchange.
The stock was last trading at Rs 258.70 on the National Stock Exchange.
According to CLSA the sharp weakness in the rupee will widen Corus' losses and increase costs for Indian operations.
Earlier JP Morgan had upgraded the Tata Steel stock with a target of Rs 530.