According to ICICI Direct, Buy Tata Steel in range of Rs 392-402,Target: Rs 475,Stop Loss: Rs 355,Time frame: Three months.
Jefferies is of the view that BSL gives strong start to Q2 steel results adding that BSL's performance has positive read through for Tata and JSW’s standalone results.
The steel maker's total production was up 31.3 percent at 7.26 mt against 5.53 mt (QoQ). Total production however was down 3.5 percent at 7.26 mt against 7.52 mt (YoY).
Peer JSW Steel also reports pre-COVID-19 levels in production and capacity utilisation
The Tata Group has sought financial assistance from the UK government after its business was hurt by the COVID-19 pandemic.
Overall, Nifty can trade in a range of 20 DMA standing around 11,350 mark and 200 DMA placed near 10,800 levels for the coming week.
Decades later, it's Tata Steel again that has featured in Shapoorji Pallonji's exit. While the Mistry family has highlighted the issues at Tata Steel, the Tatas have reiterated that the problem has shrunk
"Despite a difficult year due to COVID-19, Tata Steel honoured its three-year commitment to ensure complete bonus payment to employees," the steel major said in a release.
Talks with Tata Steel have been ongoing for months and in July the company had put forth a proposal aimed at securing nearly 900 million pounds from the government for its UK operations
The steelmaker plans to launch an e-marketplace in nine months.
N Chandrasekaran's clarification came after reports that the UK government has declined to support the company's struggling UK operations
ICICI Securities is bullish on Tata Steel has recommended buy rating on the stock with a target price of Rs 594 in its research report dated August 14, 2020.
A Tata Steel Europe spokesperson said that it "remains an ongoing concern and constructive talks are on with the UK government on areas of potential support"
Motilal Oswal recommended Neutral rating on Tata Steel with a target price of Rs 433 in its research report dated August 15, 2020.
ICICI Direct recommended hold rating on Tata Steel with a target price of Rs 450 in its research report dated August 16, 2020.
Prabhudas Lilladher recommended reduce rating on Tata Steel with a target price of Rs 300 in its research report dated August 17, 2020.
The UK government’s denial of a bailout package to Tata Steel UK may hasten a restructuring of the European business
With a higher share of domestic volumes and better product mix, we expect Tata Steel's operating profit for the domestic operations to stage a smart recovery
Chandrasekaran also said that this is for the first time since the Great Depression, that both advanced and developing economies are in recession together.
Better prices and demand in the second quarter will improve realisation, said MD and CEO TV Narendran
Total revenue from operations fell to Rs 24,288.51 crore in Q1 FY21 against Rs 33,769.95 crore sequentially and Rs 35,947.11 crore year-on-year.
Total revenue from operations fell to Rs 24,288.51 crore in Q1 FY21 against Rs 33,769.95 crore sequentially and Rs 35,947.11 crore year-on-year
Motilal Oswal expects consolidated loss at Rs 2,928.6 crore for the quarter with 81 percent fall YoY (down 78 percent QoQ) in EBITDA YoY.