pdf Detailed Estimates
Hold
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TATA STEEL
Geojit BNP Paribas
Alert
Hold
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Tata Steel (HOLD): Stock price largely captures transition; downgrade to HOLD
BOB Capital Markets Ltd.
Q4 results ahead of consensus on beat in India operations and lower losses in Europe partly due to carbon credits in the UK
Alert
Hold
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Tata Steel: Q4FY24 Result Review
IDBI Capital
Alert
Buy
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Result Update:Tata Steel
Axis Direct
We maintain our BUY rating on the stock.
Alert
Results Update
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Tata Steel Limited
SMC online
Results Update
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Tata Steel
SMC online
Alert
Buy
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First Light | Consumer Goods, Tata Steel, Bajaj Finance, Dalmia Bharat
BOB Capital Markets Ltd.
Consumer Goods: What production and price data of consumer goods say? TATA: UK transition and TSK2 to bolster growth; maintain BUY. BAF: Mixed quarter; maintain BUY. DALBHARA: Soft prices constrain growth
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Buy
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Result Update:Tata Steel
Axis Direct
We maintain our BUY rating on the stock.
Alert
Hold
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Tata Steel: Q3FY24 Result Review
IDBI Capital
Alert
Accumulate
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TATA STEEL LIMITED
Prabhudas Lilladhar
Alert
Buy
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Tata Steel (BUY): India growth to take centre stage; maintain BUY
BOB Capital Markets Ltd.
Profit has likely bottomed in Q2 as operations in Netherlands return to breakeven and India's H2 demand outlook looks up
Alert
Buy
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Result Update:Tata Steel
Axis Direct
We maintain our BUY rating on the stock post the removal of the overhang of the UK business restructuring.
Alert
Results Update
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Tata Steel
SMC online
Alert
Buy
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Tata Steel (BUY): UK transition to dispel overhang, reiterate BUY
BOB Capital Markets Ltd.
Decarbonisation of UK operation can sharpen competitiveness and add potential value of Rs 6-7/sh for TATA
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Buy
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Company Update:Tata Steel
Axis Direct
We revise our rating on the stock from HOLD to BUY.
2
Alert
Buy
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TATA STEEL LIMITED
Prabhudas Lilladhar
Alert
Accumulate
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Turning over a new leaf
ICICI Securities Limited
Tata Steel (TSL) has announced deep restructuring of its UK operations (TSUK) with twin objectives of business continuity and sustainability. Key points: 1) Existing blast furnaces to be replaced by 3mtpa Electric Arc Furnace (EAF); 2) 40% of GBP 1.25bn investment to be funded through the grant by the UK government; 3) cost differential of GBP 150-170/te compared to current operations.
Alert
Buy
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TATA STEEL
Geojit BNP Paribas
Alert
Buy
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Tata Steel (BUY): Thrust on expansion capex, Europe breakeven key positives
BOB Capital Markets Ltd.
Q1 EBITDA broadly in line as standalone operations continued to clock a high EBITDA margin of Rs 14k/t
1
Alert
Accumulate
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Meets estimates; UK operations in focus
ICICI Securities Limited
Tata Steel’s (TSL) Q1FY24 EBITDA of INR 51.7bn (down 65% YoY) met consensus estimates on the back of higher realisation in domestic operations. Key points: 1) standalone EBITDA/te at INR 14,528 was ahead of our estimates owing to existing contracts and better export realisations; 2) EBITDA/te loss at Tata Steel Europe (TSE) at USD 96 was broadly in line; 3) working capital build-up of INR 25bn QoQ led to net debt increase of INR 35.8bn QoQ; and 4) capex was at INR 41bn as KPO-II expansion stays on course.
Alert