Tata Steel sinks into loss in Q3: What’s your strategy for the stock?

In India, steel prices were subdued even as raw material costs moved lower,” said Koushik Chatterjee, Executive Director & Chief Financial Officer, Tata Steel

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Amid positive sentiment revolving around metal companies on the back of China reopening in 2023, Tata Steel has soured the mood of the Street by skidding into the red in the third quarter.

The steelmaker reported a surprise consolidated net loss of Rs 2,223.84 crore for the quarter ended December 2022, against a profit of Rs 9,572.67 crore a year back. Revenue from operations fell 6.08 percent on year to Rs 57,083.56 crore from Rs 60,783.11 crore.

At 9:45 am, the stock was quoting Rs 113.95 apiece, lower by 3 percent amid heavy trading volumes of 35.5 million shares on the NSE. The stock has gained 6 percent in the past six months.

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