Tata Steel slips 10% in 5 days post March quarter results

With the recent fall, the stock has corrected 24 per cent from its 52-week high level of Rs 1,534.60 that it had touched on August 16, 2021.

Shares of Tata Steel hit over two-month low of Rs 1,163.60, down 7 per cent on the BSE in Tuesday’s intra-day trade. The decline comes on the back of heavy volumes due to concerns around weak outlook for current quarter (Q1FY23).

In the past five trading days, the stock has declined 10 per cent after the company announced its January-March quarter (Q4FY22) results. Shares of Tata Steel were under pressure despite the board announced a hefty dividend of Rs 51 per fully paid equity share and 10:1 stock split.

With the recent fall, the stock has corrected 24