Tata Steel shares fall on $1.6 billion impairment charge

MUMBAI (Reuters) - Tata Steel Ltd shares fell as much as 2.5 percent on Tuesday after saying it will book a $1.6 billion impairment charge for the financial year ended March 31 due to weak economic and market conditions in Europe.

Tata Steel shares were down more than 2 percent as of 9:30 a.m. The steel maker made the announcement late on Monday.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)