Tata Steel Q2 loss at 6196 crore; should you buy, sell or hold stock-

Tata Steel Q2 loss at 6196 crore; should you buy, sell or hold stock?

Tata Steel’s stock price advanced by 0.94% to Rs 117.70 a day after the company posted a surprising net loss of Rs 6,196 crore on a consolidated basis for the second quarter of FY24, also missing street estimates, impacted by weak performance of its European operations. In comparison, the steel major had posted a net profit of Rs 1,514.42 crore in the comparable year-ago period. During the quarter review, the Tata Group firm’s consolidated revenue fell 7% to Rs 55,682 crore from Rs 59,878 crore recorded in the year-ago quarter.

Tata Steel’s stock has delivered a mixed performance in the last one year. The stock price dropped 3% in the last five days and 8.59% in the last one month. The stock, however, has offered returns of 6% in the last six months and over 15% in the last one year to its investors.

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