Tata Steel shares fall on $ 1.6 billion impairment charge

Mumbai: Tata Steel Ltd shares fell as much as 2.5 per cent on Tuesday morning after it said it will book a $1.6 billion impairment charge for the financial year ended March 31.

The company said it is taking the charge due to weak economic and market conditions in Europe.

Tata Steel shares were down more than 2 per cent as of 9:30 am. The steel maker made the announcement late on Monday.