Tata Steel: The second-largest steel market, India, would be a key driver of the company's credit profile, as steel consumption climb at a 7 per cent cumulative annual growth rate until 2030, Moody’s said.
The likely improvement in its UK cost structure and the relatively better performing Dutch operations will ensure, in Moody s view, Tata Steel s solid credit profile, even as steel prices remain soft and global steel demand weakens amid rising interest rates and a weak economic outlook in most end-user markets.
The Tata Steel UK transition is EPS accretive, given current cash losses will end, as the company will import substrate instead of producing at old facilities, said an analyst.
The daily chart shows that Adani Power maintains a higher top-bottom formation, a sign of strength. At present, the momentum indicators viz. MACD is positively poised.
Tata Steel UK: Tata Steel s share price reached a 52-week high after announcing a joint agreement with the UK government to invest in steelmaking at the Port Talbot site. Domestic brokerage Nuvama Institutional Equities has a buy rating for Tata Steel stock with a target price of ₹142.