Tata Steel nears 52-week low on concerns over no JV with Thyssenkrupp

Thus far in May, the stock of Tata Steel has tanked 17 per cent, as compared to 5 per cent decline in the S&P BSE Sensex.

Shares of Tata Steel were trading lower for the ninth straight day on Tuesday, down 2 per cent in the intra-day trade on the BSE, at Rs 462 apiece during the early morning trade. The stock has been falling ever since concerns over the European Commission's (EC) likely rejection for the proposed joint venture between the company's European arm and ThyssenKrupp surfaced.

So far, during the nine trading sessions in May, stock of the steel major has melted 17 per cent, as compared to a 5 per cent decline in the S&P BSE Sensex. It was trading close to its