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Tata Steel Declines 5 Per cent on Poor Q4 Numbers

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Shares of the Tata Steel was seen trading lower on Thursday after the company posted poor Q4 numbers due to low demand.

 

The Indian steel industry witnessed subdued demand across steel-consuming industries.

Tata Steel Declines 5 Per cent on Poor Q4 Numbers
Tata Steel: Quotes, News
BSE 1177.80BSE Quote12.95 (1.10%)
NSE 1176.15NSE Quote11.35 (0.97%)

There was a surge in low priced imports especially from China, Japan and Korea, which led to a sharp correction in steel prices especially during the last few months of the year, the company said in the press release.

The company reported a loss of Rs 5,670 crore against a net profit of Rs 1035 crore, in the same quarter of last fiscal.

The Board of Directors of the Company has recommended an equity dividend of ₹8 per share for FY'15.

Shares were seen trading lower by 5 per cent at Rs 343 on BSE at 11.10 AM IST.

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Read more about: tata steel
Story first published: Thursday, May 21, 2015, 11:20 [IST]
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