Tata Steel has ended at Rs 556, lower by Rs 19 or 3.3%, on the BSE. The stock touched an intra-day high of Rs 574 and a low of Rs 554.
A total of 1,870,373 shares were traded on the BSE as against the two-week average of 2,907,121.
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(Updated at 11.30 am)
Tata Steel is trading weak in the backdrop of its European arm Corus announcing plans to partially halt operations at its Teesside Cast Products (TCP) business in the UK by next month, rendering as many as 1,700 people jobless.
The stock is trading at Rs 561, lower by Rs 14 or 2.4%, on the BSE. It had opened at Rs 570 and has touched a high of Rs 574 and a low of Rs 561 thus far.
In May, a consortium of international buyers broke the 10-year offtake agreement with TCP and thereby forced Corus to consider mothballing its mills.
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"TCP's Redcar Blast Furnace, Lackenby steel-making and the South Bank Coke Ovens will be mothballed at the end of January 2010," Corus said in a statement.