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  1. Tata Steel shares fall on weak industry outlook

Tata Steel shares fall on weak industry outlook

At 10.55, Tata Steel shares were trading down 2.89 per cent on BSE at a price of Rs 272.25. On NSE, the shares were down 2.82 per cent down at Rs 272.50.

By: | Updated: July 23, 2015 11:05 AM
tata steel

Tata Steel said 720 British jobs could become redundant in its speciality and bar business, which is being refocused on high-value markets such as aerospace.(Reuters)

Shares of Tata Steel fell by 2.9 per cent on Thursday after World Steel Association continued to guide for weaker global steel consumption growth. The company’s shares were down 31.8 per cent year to date.

At 10.55, Tata Steel shares were trading down 2.89 per cent on BSE at a price of Rs 272.25. On NSE, the shares were down 2.82 per cent down at Rs 272.50.

The stocks may head towards its lowest close since Sept. 2013

Weak sector outlook continued to weigh on the stock. Global crude steel output fell 2 per cent in the first half of the year, mainly due to continued weakness in top producer China and elsewhere in Asia.

Eurofer says European economic growth is expected to power only a 1.5 per cent rise in EU steel demand this year.

With agency inputs

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