Steel
Steel
from 188 today
Tata Steel is ramping up its 5 mtpa Kalinganagar blast furnace and 2.2 mtpa cold rolling mill complex, which should aid volume growth and improve product mix, supported by improving trajectory at European operations and cost optimization initiatives.
Standalone operating performance was in line with estimates with strong NSR offsetting muted volume, while the outlook is bright with strong India operations.
Tata Steel reported an in-line Q1FY27 with continued robust India operating performance aided by higher steel pricing. Europe remained a mixed bag, with TSUK improving and TSN remaining weak, but we maintain our Accumulate rating with a revised target price of INR 212 valuing at 7.5x EV/TSI EBITDA and 5x TSE EBITDA.
Tata Steel reported a muted Q1 with consolidated EBITDA in line with estimates and revenue beating consensus, while near-term headwinds in Netherlands and UK weighed on performance. We maintain our HOLD rating with a revised target price of Rs 200 per share.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
