Tata Steel falls for fifth straight session, stock hits 18-month low

Tata Steel hit an 18-month low of Rs 493, down 2%, falling for fifth straight trading session on worries over slower demand.

Shares of Tata Steel hit an 18-month low of Rs 493 apiece, down 2%, falling for the fifth straight trading session on worries over slower demand. The stock was trading at its lowest level since June 28, 2017, on the BSE.

In past one month, after the September quarter results (Q2FY19), Tata Steel has underperformed the market by falling 16%, as compared to a 1.6% decline in the S&P BSE Sensex.

According to Moody's Investors Service, in 2019, demand for steel in Asia will likely stay at levels similar to that in 2018, indicating a softening from the