India's Tata steel Long Products falls as higher costs dent Q3 profit

Tata Steel Long Products

18/01/2022 05:15

** Shares of the sponge iron maker  TTST.NS  fall as much as
6.1% to 775 rupees, marking their biggest intraday pct drop
since Dec. 20
    ** Co on Monday reported 66% drop in Dec-qtr profit to 1.04
bln rupees ($13.98 mln), hurt by higher raw material costs
 urn:newsml:reuters.com:*:nFWN2TX0MS
    ** Cost of materials consumed nearly doubled to 10.13 bln
rupees 
    ** About 166,100 shares change hands vs the 30-day avg of
111,442 shares
    ** TTST shares rose nearly 31% in 2021 after gaining 40.2%
in 2020 


($1 = 74.3850 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))