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Tata Steel Plunges 3%; BSE METAL Index Down 2.4%
Wed, 14 Aug 11:48

Tata Steel Plunges 3%; BSE METAL Index Down 2.4%Image source: Chunumunu/www.istockphoto.com

Tata Steel share price has plunged 3% and is presently trading at Rs 143.6.

Meanwhile, the BSE METAL index is at 30,043.2 (down 2.4%).

Among the top losers in the BSE METAL index today are Hindustan Zinc (down 5.3%) and NMDC (down 5.3%).

Jindal Steel (up 0.3%) and APOLLO TUBES (up 0.2%) are among the top gainers today.

Over the last one year, Tata Steel has moved up from Rs 118.2 to Rs 143.6, registering a gain of Rs 25.5 (up 21.5%).

On the other hand, the BSE METAL index has moved up from 21,481.0 to 30,043.2, registering a gain of 39.9% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Coal India (up 114.2%), NMDC (up 79.5%) and Vedanta (up 76.2%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 79,035.1 (up 0.1%).

The top gainers among the BSE Sensex today are TCS (up 2.1%) and Tech Mahindra (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and Infosys.

In the meantime, NSE Nifty is at 24,136.5 . Coal India and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 79,035.1, registering a gain of 13,633.1 points (up 20.8%).

Tata Steel Financial Update...

Tata Steel net profit grew 3.8% YoY to Rs 8,261 million for the quarter ended June 2024, compared to a profit of Rs 7,961 million a year ago. Net sales declined 7.9% to Rs 547,714 million during the period as against Rs 594,897 million in April-June 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 -37.2.

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