INSUBCONTINENT EXCLUSIVE:
Shares of Tata Steel fell over 5 per cent on Thursday, a day after the steel major announced its quarterly results for the first quarter of
quarter stood at Rs 35,947.11 crore, up 1.28 per cent compared to the corresponding period a year ago."The steel sector is facing
significant headwinds which has affected spreads and overall profitability
Increased government spending and efforts to address the liquidity crunch should help revive demand and steel prices in India in the second
half of the year," said TV Narendran, CEO and managing director, Tata Steel.The company's shares closed lower 4.03 per cent lower at Rs
366.50 on the NSE, underperforming the benchmark Nifty50 index which closed 1.63 per cent higher
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