Tata Steel share price tanks: Here is why
India Today
Tata Steel's share price on Thursday was at Rs 1299, down by 1.12 per cent or 14 points.
Tata Steel's share price on Thursday tanked after falling over one per cent. This comes after India's largest steelmaker by revenue announced that it would stop doing business with Russia.
Meanwhile, the board of Tata Steel Ltd will on May 3 consider a proposal to split the stock and also recommend a dividend, the steel maker said in a statement last Sunday.
Tata Steel's share price on Thursday was at Rs 1299, down by 1.12 per cent or 14 points.
You can check Tata Steel's share price on BSE at https://www.bseindia.com/stock-share-price/tata-steel-ltd/tatasteel/500470/ .
You can track the share price on NSE at Rs 1,299, down by 1.1 per cent or 14.65 points.
In a statement, a company spokesperson said: "Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia".
To ensure business continuity, the company's all steel manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia, the company said.
