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Tata Steel Q2: Motilal Oswal Securities expects that Tata group entity to report 61.1 per cent YoY plunge in profit at Rs 596.90 crore on a 5.7 per cent YoY drop in sales at Rs 56,472.20 crore.
The bright spot is that Ebitda per tonne is likely to have bottomed out in Q3 when this measure stood at a loss of ₹7,810 (or $95) for Tata Steel Europe ....
Most analysts increased their earnings estimates for the company and raised price targets for the stock after the June quarter earnings, maintaining their overweight stance. ....
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. ....
Iron ore integration to help drive Tata Steel’s prospects Premium With not much pressure on costs, the company’s operating performance is to continue improving and is expected to see regular improvement in per tonne profits. (Bloomberg) Share Via Read Full Story Tata Steel that was among the largest gainers in the Nifty stocks also touched fresh 52-week high on Thursday. With rising steel demand and realizations in the country, street sentiments remain upbeat on the company that is an integrated steel manufacturer. Having captive supplies of iron ore and coal, the key raw material for steel manufacturing, the company remains insulated from the impact of rising raw material prices. The prices of iron ore in the international arena are near all-time highs. In India, National Mineral Development Corp. Ltd (NMDC), the country’s largest iron ore producer, has raised prices by more than 50% since the beginning of November 2020. ....