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Clues by NC Team • 15 Apr 2019, Monday

Emkay Global Financial Services has a BUY call on Tata Steel with a one year target price of Rs 683. The current market price of Tata Steel is Rs 550.95. The company is now re-focusing on its domestic stronghold, which is the fastest-growing steel market among the major economies globally.  With Tata Steel exiting the European and SEA businesses, it should improve the company’s EBITDA profile. However, lower domestic steel prices remain a key factor.

Read More at The Economic Times
Clues by NC Team • 12 Apr 2019, Friday

ICICI Direct has given a buy recommendation on the Tata Steel stock with a target price of Rs 625. Tata Steel’s Indian operations (including erstwhile Bhushan Steel) achieved the highest ever crude steel production in Q4FY19. For FY19, Tata Steel Indian operations (Tata Steel standalone + Tata Steel BSL) reported a production volume of 16.79 MT and sales volume 16.27 MT.

Read More at Moneycontrol
Clues by NC Team • 2 Apr 2019, Tuesday

Tata Steel's European unit may have to divest its UK facilities to get the proposed JV with Thyssenkrupp cleared by the European Union Commission. The regulator is probing if the joint venture would harm competition. It will announce its decision on June 5. The joint venture will be the second largest steelmaker in Europe, behind ArcelorMittal.  It will have annual revenues of 17 billion euros and will produce 21 million tons of steel annually. The Commission had identified three industry segments - automotive steel, coated steel used for packaging and electrical steel - where the JV may harm competition.

Read More at Moneycontrol
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