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Tata Steel Plunges 5%; BSE METAL Index Down 4.2%
Fri, 19 Jul 15:25

Tata Steel Plunges 5%; BSE METAL Index Down 4.2%Image source: CreativaImages/www.istockphoto.com

Tata Steel share price has plunged 5% and is presently trading at Rs 157.7.

Meanwhile, the BSE METAL index is at 31,488.3 (down 4.2%).

Among the top losers in the BSE METAL index today are NMDC (down 5.5%) and Jindal Steel (down 4.5%).

Over the last one year, Tata Steel has moved up from Rs 117.7 to Rs 157.7, registering a gain of Rs 40.0 (up 33.9%).

On the other hand, the BSE METAL index has moved up from 21,445.2 to 31,488.3, registering a gain of 46.8% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 111.8%), NMDC (up 101.4%) and Hindustan Zinc (up 97.6%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,523.3 (down 1.0%).

The top losers among the BSE Sensex today are JSW Steel (down 4.5%) and NTPC (down 3.7%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,526.6 (down 1.1%). BPCL and JSW Steel are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,523.3, registering a gain of 13,933.3 points (up 20.9%).

Tata Steel Financial Update...

Tata Steel net profit fell 64.8% YoY to Rs 5,176 million for the quarter ended March 2024, compared to a profit of Rs 14,700 million a year ago. Net sales declined 6.8% to Rs 586,873 million during the period as against Rs 629,615 million in January-March 2023.

For the year ended March 2024, Tata Steel reported 160.8% decrease in net profit to Rs -49,096 million compared to net profit of Rs 80,754 million during FY23. Revenue of the company fell 5.8% to Rs 2,291,708 million during FY24.

The current Price to earnings ratio of Tata Steel, based on rolling 12 month earnings, stands at -40.6.

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