Tata Steel shares fall on $1.6 bn impairment charge

India's Tata Steel Ltd shares fell as much as 2.5 percent on Tuesday.

Written by Reuters | Mumbai | Published: May 14, 2013 9:39:59 am

India’s Tata Steel Ltd shares fell as much as 2.5 percent on Tuesday after saying it will book a $1.6 billion impairment charge for the financial year ended March 31 due to weak economic and market conditions in Europe.

Tata Steel shares were down 2.2 percent as of 0356 GMT. The steel maker made the announcement late on Monday.

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