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Tata Steel Plunges 3%; BSE METAL Index Down 3.0%
Tue, 8 Oct 9:27

Tata Steel Plunges 3%; BSE METAL Index Down 3.0%Image source: KanawatTH/www.istockphoto.com

Tata Steel share price has plunged 3% and is presently trading at Rs 157.3.

Meanwhile, the BSE METAL index is at 32,495.2 (down 3.0%).

Among the top losers in the BSE METAL index today are NMDC (down 6.7%) and APOLLO TUBES (down 3.5%).

Hindustan Zinc (up 0.3%) is among the top gainers today.

Over the last one year, Tata Steel has moved up from Rs 125.3 to Rs 157.3, registering a gain of Rs 32.0 (up 25.5%).

On the other hand, the BSE METAL index has moved up from 22,570.7 to 32,495.2, registering a gain of 44.0% during the last 12 months.

The top gainers among the BSE METAL index stocks during this same period were Vedanta (up 117.4%), Coal India (up 66.0%) and Hindustan Zinc (up 61.0%).

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What About the Benchmark Indices?

The BSE Sensex is at 81,100.6 (up 0.1%).

The top gainers among the BSE Sensex today are M&M (up 1.2%) and Ultratech Cement (up 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,810.0 (up 0.1%). M&M and Hindustan Unilever are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,226.0 to 81,100.6, registering a gain of 15,874.5 points (up 24.3%).

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 -40.7.


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