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Tata Steel slips after HDFC MF pares stake

Capital Market 

Tata Steel fell 1.45% to Rs 515.20 after HDFC mutual fund reduced its stake in the steel major to 2.96% on 12 November 2020 from 5.02% held earlier.

On 12 November 2020, HDFC mutual fund sold 1.98 crore equity shares (2.06% equity) of Tata Steel. The transaction has taken place in open market. The disclosure was made after market hours yesterday, 17 November 2020.

Tata Steel reported 49.6% decline in consolidated net profit to Rs 1,665.07 crore on 7.4% increase in net sales to Rs 36,475.66 crore in Q2 FY21 over Q2 FY20.

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 18 2020. 11:14 IST
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