Tata Steel declined 0.15% to Rs 182.90 at 13:40 IST on BSE after Unions representing workers at Tata Steel in Britain said they will go on strike on 22 June 2015.
Meanwhile, the BSE Sensex was up 10.46 points, or 0.04%, to 26,533.55.
On BSE, so far 5.55 lakh shares were traded in the counter, compared with an average volume of 7.65 lakh shares in the past one quarter.
At the day's high of Rs 304.10, the stock rose 0.41%. At the day's low and also the 52-week low of Rs 293.30, the stock fell 3.15%. The stock hit a 52-week high of Rs 578.60 on 9 June 2014.
The stock had underperformed the market over the past one month till 8 June 2015, declining 7.19% compared with 2.15% decline in the Sensex. The scrip had however outperformed the market in past one quarter, dropping 6.14% as against Sensex's 9.94% fall.
The large-cap steel manufacturing company has an equity capital of Rs 971.22 crore. Face value per share is Rs 10.
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The other unions reportedly involved in the strike are Community, Unite and UCATT. The four unions are in dispute with the company over proposed changes to their final salary pension scheme, report said. Last week, members of all four unions: Unite, Community, GMB and UCATTvoted in favour of a strike action. These unions represent 17,000 employees.
Meanwhile, with respect to news titled, "Tata Steel, Swansea varsity tie up," Tata Steel clarified after market hours yesterday, 8 June 2015, that the new item is based on a release issued by the company's subsidiary in Europe. This is research related project. It has no impact and not material to Tata Steel's operations, the company added.
Tata Steel reported consolidated net loss of Rs 5674.29 crore in Q4 March 2015 compared with consolidated net profit of Rs 1035.87 crore in Q4 March 2014. Total income dropped 20.5% to Rs 33808.61 crore in Q4 March 2015 over Q4 March 2014.
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