Centrum is bearish on Tata Steel has recommended sell rating on the stock with a target price of Rs 410 in its research report dated February 07, 2017.
Centrum's research report on Tata Steel
We retain Sell on Tata Steel with a revised TP of Rs 410 as we believe that i) strong Q3 performance at standalone operations is unlikely to sustain due to likely pressure on steel prices going ahead and sharp increase in RM costs from unusually low base of Q3, ii) earnings from the residual European operations remain vulnerable to global spreads and iii) material balance sheet deleveraging would remain elusive.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.