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Tata Steel’s stellar Q3 show draws wows & cynicism both SECTIONS Share Getty Images INSIGHTS NSE Explore Now NEW DELHI: Tata Steel said it returned to black in the December quarter, riding the price increases and operating efficiency, but not everyone on Dalal Street was convinced that the trend may sustain. Analysts gave mixed reactions to the earnings, with some saying the stock is primed for another leg of the rally, while others said investors should start trimming their holdings in the stock. Pinakin Parekh and Anukul Agrawal, analysts at JPMorgan, said the company’s numbers beat their estimates by a wide margin with net debt reduction. They maintained an ‘overweight’ stance and increased EPS estimates and price targets.

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