Inspite of posting good results, Why there is a huge correction in TATA Steel stock?
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Tata Steel has posted strong Q2 results with a net profit of Rs. 12000 crore. Despite that, the stock has fallen more than 12% in just 5 trading sessions. Although we have witnessed a strong rally for three months due to the high demand for steel in the global market.
But recently the production and the demand reports of steel in China have come into the news. The reports say that the demand for steel in China has decreased slightly.
Tata Steel has started falling after the china market reports. It has fallen from 1320 to 1145 in just 5 trading sessions.