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Futures Trade | Potential of a breakdown ahead in Tata Steel

Tata Steel is about to break down from a support area

September 20, 2022 / 10:33 AM IST
Futures Trade | Potential of a breakdown ahead in Tata Steel

Tata Steel Long Products | CMP: Rs 579.70 | The share price fell over 4 percent after the company posted a surprise net loss of Rs 331.09 crore in the quarter ended June, thanks to higher expenses. The company had a profit of Rs 331.60 in the year-ago period. This was despite its total income rose 24.78 percent to Rs 2,154.78 crore from Rs 1,726.82 crore in the quarter ended June 2021. The company’s expenses almost doubled to Rs 2,489.58 crore from Rs 1,282.59 crore in the same period a year ago.

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