For the quarter ended December, Tata Steel, the country’s largest steel producer, reported a consolidated net loss of Rs 2,223 crore primarily because of weak profitability both in India and Europe businesses. The steel maker’s operating margin shrunk to 7.3% from as high as 26% a year ago.
Muthoot Finance, Manappuram, other gold financier stocks jump up to 4% as gold prices rise above Rs 1.58 lakh/10 grams
Shares of gold loan companies Muthoot Finance, Manappuram Finance and IIFL Finance rose as much as 4% as gold prices surged following the US Treasury’s