Market
watchers say the metal stocks are bullish and expect a further rise in
over-the-counter steel prices, which are expected to rise to generate margin
profits for Tata Steel Limited and help the company reduce its debt last year.
India`s
EBITDA (T) rose in the second half of the year as the full benefits of recent
steel price increases were taken into account. According to media reports,
steel companies in India are raising their steel prices in anticipation of
higher demand. India`s spot flat steel prices were Rs 65K in the second quarter
and the average contract price has been revised to get a boost in the second
half of the year, and Tata Steel`s ASPs are expected to see an increase of Rs
4-5K QoQ in the third quarter.
In addition
to supply reforms in China, a strong recovery in demand in 2021 will lead to
higher steel prices. Rising share, higher margins, India capacity and a renewed
focus on domestic business will drive up the valuation rate for Tata Steel. The
Tata Steel shares price soared 29.0 percent in morning trading following the
second rating upgrade of S & P Global Ratings, as reported by Bloomberg. In
terms of relative price strength, the price has increased by 0.155k over the
past year, taking into account the general market trend.
In
2018, Bhushan Steel bought Tata Steel, TATA Steel shares price history
1995-2021Tata Steel share price was 136 rupees in 1995. Tata Steel Limited,
former known as Tata Iron & Steel Company Limited, is a leading global
steel company with an annual capacity of 34 million tons of crude steel a year.
From
1971 to 1979, the Indian government made two attempts to nationalize the
company, but this was not to happen. At the time the company TISCO (Tata Iron
and Steel Company) was formed and changed its name to Tata Steel in 2005. The
company was purchased in 2004 by Natsteel in 2004, Millennium Steel in 2005 and
Corus in 2007.
Don`t
forget to read the full share price table below. The price forecasts apply to
the short, medium and long term. The main indicator of a rising or falling
share price is its track record and dynamism. The PE ratio, or
price-to-earnings ratio, is one of the most popular measurements used by equity
investors. The PE ratio is calculated by dividing a company`s price per share
by earnings per share.
Equity
investments require careful analysis of financial data to determine a company`s
true assets. Investors are advised to invest carefully and to analyse the
companies that are performing well and not to heed unfounded rumours and
advice. Fusion Media accepts no responsibility for any trading losses that you
may incur as a result of the use of this information. Customers and third
parties of LKP Wealth Advisory Ltd have the right to share our selection and
other information provided by us or received by them. Investment advice is the
personal view of the research team.
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At
this level, Tata Steel shares are trading at 43.63 rupees, a discount to
analysts` consensus target of 43.63 rupees. The shares closed at Rs 438, or Rs
5.1 higher at Rs 12.17 against the previous closing price of Rs 116.675 on the
BSE.
Tata
Steel`s margins are under pressure due to its plant in Ijmuiden in the
Netherlands, which is one of the better plants in Europe and has a strong
commitment to automotive packaging. Other business areas include pipe storage,
refractory pigments, port operations and municipal services. The decrease in
net debt is consistent with the decrease in the gross debt resulting from the
increase in current investments in Tata Steel Standalone and TSBSL, offset by a
decrease in cash and bank balances in Tata Steels global holdings. The point of
using lorem ipsum is that it is a normal distribution of letters and not the
use of content by content, which makes it easier to read in English.
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