Tata Steel posts surprise loss in Q2
Tata Steel reported on Friday a surprise quarterly loss of Rs 364 crore, as weakening demand and prices in its main European market offset a solid performance at home.
A Reuters poll of brokerages had forecast net profit of Rs 260 crore.
The net loss for the quarter ended September compared with a profit of nearly Rs 600 crore a year earlier.
Shares in Tata Steel, valued at USD 7.2 billion, extended losses to more than 4 percent after the results announcement.