Tata Steel’s (CMP: Rs 492; Market capitalization: Rs 56,390 crore) September-quarter results were above street expectations on the back of strong performance in the India business and improving performance in the European business as well. On the back of higher steel prices and coking coal prices remaining stable due to the China-Australia trade-off, we expect the strong performance to continue in the December and March 2021 quarter results. Net sales realization is likely to improve in the December 2020...
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