India's Tata Metaliks hits near 2-1/2-yr low as profit drops

Tata Metaliks

16/07/2019 05:42

** Shares of Tata Metaliks Ltd  TMET.NS  fall as much as
6.8% to 541.8 rupees, their lowest since March 2017
    ** The pig iron manufacturer posted a nearly 35% fall in
June-qtr consol profit on Monday as ~10% rise in raw material
cost drove expenses higher  urn:newsml:reuters.com:*:nFWN24G0UL
    ** Stock on track for its third straight session of losses
    ** Up to last close, shares have fallen 6.3% this year,
while peer JSW Steel  JSTL.NS  down 11.7% in the same period

 (Reporting by Harish Bhaskar in Bengaluru)
 ((Harish.Bhaskar@thomsonreuters.com; +91 9886782831; Reuters
Messaging: harish.bhaskar.thomsonreuters.com@reuters.net))