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Sustained margin improvement in India, successful commissioning of new capacities, and a meaningful turnaround in Europe could create room for valuation re-rating
Tata Steel's revenue fell 4.2 percent to Rs 56,218.11 crore in the March quarter compared to Rs 58,687.31 crore in the year-ago period.
Net Sales are expected to decrease by 1.8 percent Y-o-Y (up 7.4 percent Q-o-Q) to Rs. 57,610 crore, according to PL Capital.
The UK overhang, excess China dumping, and rich valuations take some of the shine off the stock
Net Sales are expected to decrease by 2.6 percent Y-o-Y (down 0.9 percent Q-o-Q) to Rs. 54,260 crore, according to PL Capital.
Net Sales are expected to decrease by 4.1 percent Y-o-Y (up 9.1 percent Q-o-Q) to Rs. 60,360 crore, according to Prabhudas Lilladher.
Managing Director and Chief Executive Officer TV Narendran said Tata Steel’s Rs 16,000 crore capex in FY24 is on track. India demand continues to be strong.
Tata Steel Q1: The company's consolidated net sales are expected to come in at Rs 56,337.80 crore, while net loss is estimated at Rs 122.80 crore, analysts said.