Tata Steel plunges nearly 8%

Tata Steel, down nearly 8%, was one of the two worst hit stocks on the Sensex as metal shares took a beating following deepening concerns that COVID-19 will turn into a pandemic and derail global economy.





India Ratings and Research on Thursday revised its FY21 outlook for domestic steel sector to negative for FY21 from stable-to-negative, given the modest steel demand growth expectations of 5% compared with an estimated 4% growth for FY20.