Tata Sponge Iron tumbled 8.9% to Rs 712.50 at 10:58 IST on BSE after consolidated net profit fell 78.83% to Rs 8.57 crore on 32.22% decline in total income from operations to Rs 160.33 crore in Q4 March 2015 over Q4 March 2014.
The Q4 result was announced before market hours today, 21 April 2015.
Meanwhile, the S&P BSE Sensex was down 96.52 points or 0.35% at 27,789.69.
On BSE, so far 1.29 lakh shares were traded in the counter as against average daily volume of 1.88 lakh shares in the past two weeks.
The stock hit a high of Rs 733.45 and a low of Rs 683.95 so far during the day.
Tata Sponge Iron produces high-grade sponge iron.
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