Tata Steel shares down over 5%; mcap dips by Rs 2,029 cr

Tata Steel's scrip on Monday fell by over 5 per cent, wiping-out Rs 2,029.39 crore from its market valuation, in-line with a weak stock market trend.

Shares of the company tanked 5.30 per cent to settle at Rs 373.60 on BSE. Intra-day, it fell by 5.7 per cent to Rs 372.

The stock was the worst performer among the 30-bluechip Sensex components.

At the National Stock Exchange (NSE), the scrip dropped 5.39 per cent to close at Rs 373.30.

The company's market valuation fell by Rs 2,029.39 crore to Rs 36,284.61 crore.

On the volume front, 9.45 lakh shares of the company were traded on BSE and over 67 lakh shares changed hands at NSE during the day.

Cautious trading ahead of the company's June quarter result too pulled down the stock.

Post market hours, Tata Steel reported a consolidated net loss at Rs 3,183.07 crore in the quarter ended June 30, 2016 against a net loss of Rs 316.91 crore in the year-ago period.