What exactly has gone wrong?
There was always the worry over the Tata Steel numbers in the light of global glut and falling steel prices. But the losses announced by Tata Steel for the third quarter were more than twice what the street had anticipated. Against street expectations of Rs.1000 crore losses in this quarter, Tata Steel ended up with a net loss of Rs.2127 crore. What was the reason for this steep loss and how fundamental is the problem at Tata Steel. More importantly, what could be the outlook for the stock? Continue reading
