Tata Steel In ‘Good Position’ To Post Stronger Q2, Says CFO Koushik Chatterjee
Tata Steel Ltd. is in a “good position” for a second strongest quarter due to a “steel cycle and globally bullish steel supply reforms,” according to the Executive Director and the Koushik Chatterjee Financial Director.
The steel manufacturer is expected to deliver the highest European differentials: the prices of the products less costs: higher deliveries, and the liberation of working capital for Indian operations in the final quarter of September, told Bloombergquint in a interview.
Cost cuts, along with a trajectory of continuous price increase and better automotive contracts, would also help Tata Steel’s operational performance, Chatterjee said. He even expects the company to be very fundamentally different from its own self in terms of strength, agility, growth and creation of value.
Tata Steel saw that her quarterly consolidated earnings increased 34.1% sequentially in the first quarter end. That was helped by the highest steel prices, a decrease in financial costs and depreciation, and other operating expenses. Your income and your operating income also increased in the previous three months.
The company’s shares increased to 2.5% starting at 12:20 p.m. Monday. Of the 33 analysts that drag the stock, 28 have a ‘purchase’ rating, four suggest a ‘HOLD’ and one recommends a ‘sale’, according to the Bloomberg data. The average goal of the 12-month consensus price implies an advantage of 8.2%.
Research reports on the profitability of Tata Steel Fort; Wanting to continue: the capital of the IDBI results in line with the estimates; It arises from profits to continue in the short term: Systematix superior Working capital did not allow the delegate: the values of ICICI
