Tata Steel finally ended with a loss of 2.5% at Rs 388. The counter witnessed trades of around 6.40 million shares, which was higher by 2.30 million than its two-week daily average volumes. _______________________________________________________
(Updated at 1332 hrs)
Tata Steel has slipped 2.5% on a 60% dip in FY09 net profit.
The stock opened in the green at Rs 400 and touched a high of Rs 403. Thereafter it shed nearly 6% to touch a low of Rs 380.
The stock is currently trading 2.5% lower at Rs 387. Around 4.62 million shares have been traded on the BSE so far.
The company has posted a 60% drop in net profit at Rs 4,950.90 crore for the year ended March, 2009 from Rs 12,349.98 crore in the previous fiscal.
The consolidated total income, however, increased 11% to Rs 1,47,594.93 crore in FY09 from Rs 1,32,009.49 crore.
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