Thursday, 23 May 2013 18:44
Posted by Abdul Ahad
NEW DELHI: Tata Steel Ltd, India's largest steelmaker by market value, swung to a loss in its fourth quarter, hit by weak demand in Europe, its top market and production region.The company is under pressure from investors to cut costs and idle or sell factories, especially its older plants in Britain, to turn around its loss-making European operation.Two thirds of Tata Steel's 27 million-tonne annual capacity is in Europe. However, demand there has fallen by ...