What is the result of Tata Steel q4 2023?
Tata Steel’s 4QFY23 Financial Results – Mumbai, May 02, 2023 Tata Steel reports Consolidated EBITDA of Rs 32,698 crores for FY2023; Net debt stands at Rs 67,810 crores Highlights:
Consolidated Revenues for FY2023 stood at Rs 2,43,353 crores and were broadly similar on YoY basis despite volatile operating environment across geographies. Consolidated EBITDA stood at Rs 32,698 crores, with an EBITDA margin of ~13%. Consolidated Profit after Tax stood at Rs 8,075 crores. During the quarter, Consolidated Revenues stood at Rs 62,962 crores and EBITDA was at Rs 7,225 crores, with an EBITDA margin of ~11%. Profitability improved primarily on India performance. Neelachal Ispat Nigam Limited has steadily ramped up during the last two quarters and is presently operating with a run rate of ~1 million tons (crude steel plus pig iron) on annualised basis. The company has spent Rs 4,396 crores on capital expenditure during the quarter and Rs 14,142 crores for the full year. Work on 5 MTPA expansion at Kalinganagar and setting up an EAF mill of 0.75 MTPA in Punjab is progressing. Net debt decreased by ~Rs.3,900 crores to Rs.67,810 crores. Our liquidity remains strong at Rs 28,688 crores. Net debt to EBITDA was 2.07x. India 1 achieved highest ever annual crude steel production of 19.88 million tons and highest ever deliveries of 18.87 mn tons.
Automotive was up 5% YoY, Branded Products and Retail was up 11% YoY while Industrial products & projects was up 14% YoY. EBITDA stood at Rs.27,561 crores, translates to an EBITDA per ton of Rs 14,606
Europe revenues were £9,293 million and EBITDA was £477 million, translating to an EBITDA per ton of £58. Product mix has been affected due to ongoing upgradation of Cold Mill in Ijmuiden (CM21). The relining of one of the blast furnaces at Ijmuiden has commenced in early April. The Board of Directors recommends a dividend of Rs.3.60 per fully paid-up equity share of face value of Re 1/- each.
|Key profit & Loss account items (All figures are in Rs. Crores unless specified)||India 1||Consolidated|
|Production (mn tons) 2||5.15||5.00||4.90||19.88||19.06||7.80||7.56||7.62||30.65||31.03|
|Deliveries (mn tons)||5.15||4.74||5.12||18.87||18.27||7.78||7.15||8.01||28.79||29.52|
|Reported EBITDA (Rs. per ton)||15,715||10,510||24,469||14,606||28,863||9,289||5,806||18,937||11,358||21,626|
|Adjusted EBITDA 3||8,320||4,412||24,931||51,848||7,225||2,727||15,891||30,117||65,483|
|Adjusted EBITDA per ton (Rs. Per ton)||16,160||9,305||23,305||13,212||28,372||9,288||3,812||19,832||10,462||22,186|
|PBT before exceptional items||5,851||2,732||10,800||19,264||45,211||3,309||243||12,139||18,122||50,361|
|Exceptional Items (gain)/loss||699||7||76||780||263||(12)||(160)||274||(113)||134|
|Reported Profit after Tax||3,497||1,918||7,899||13,191||33,641||1,566||(2,502)||9,835||8,075||41,749|
|1.India includes Tata Steel Standalone and Tata Steel Long Products on proforma basis adjusted for intercompany purchase and sale;2. Production numbers for consolidated financials are calculated using crude steel for India, liquid steel for Europe and saleable steel for SEA; 3. Adjusted for changes on account of FX movement on intercompany debt / receivables;|
Management Comments: Mr. T V Narendran, Chief Executive Officer & Managing Director: “FY2023 saw our India crude steel production growing to around 19.9 million tons, with a 65% share of our overall volumes. Deliveries were in line with production with domestic deliveries growing 11% YoY and driving product mix improvement.
The quarter also saw strong momentum with deliveries growing by 9% QoQ to 5.15 million tons. We have multiple projects ongoing at various locations in India as we work towards 40 MTPA by 2030. The phased commissioning of our expansion at Kalinganagar continues with FHCR coils now being produced at the CRM complex.
Within 9 months of acquisition, we have successfully ramped up Neelachal Ispat Nigam Limited to ~1 million tons on annualised basis. We have also progressed on our plans to set up our first EAF mill in Punjab. During the quarter, Europe deliveries were up 9% QoQ.
The Cold Mill upgrade at Ijmuiden is progressing and we have commenced the relining of BF6 in early April. Sustainability is at the core of our strategy and Tata Steel has committed to Net Zero by 2045. Our route and pace of decarbonisation across geographies will be calibrated for each location based on the local regulatory framework, government support and willingness of customers to pay for higher cost green steel.
We continue to pursue multiple initiatives to reduce our emissions including a recently initiated trial for injecting large quantity of hydrogen into one of our blast furnaces at Jamshedpur, a global first. I am also happy to share that Tata Steel has been recognised by worldsteel as Sustainability champion for the sixth time in a row and by World Economic Forum as Global Diversity, Equity & Inclusion Lighthouse.” Mr.
- Oushik Chatterjee, Executive Director and Chief Financial Officer: “Our Consolidated revenues for the financial year were ~$30 billion.
- Revenues were broadly stable on YoY basis despite the heightened volatility in the operating environment.
- Consolidated EBITDA stood at Rs 32,698 crores, which translates to an EBITDA margin of 13% and EBITDA per ton of Rs 11,358.
The India business generated a margin of 20% while Europe was at 5% with higher input costs affecting margins. The consolidated ROIC was 15% for the full year. During the quarter, our consolidated revenues stood at Rs 62,962 crores while EBITDA was Rs 7,225 crores.
India business witnessed a margin improvement from 15% to 22% driven by improved realisations QoQ. In Europe, margins were broadly similar on QoQ basis as improvement in costs was offset by drop in revenues, in part due to delay in ramp up of cold mill at Ijmuiden. Cash flow from operations before interest stood at Rs 11,260 crores driven by favourable working capital movement.
Our capital expenditure was Rs 4,396 crores for the quarter as we prioritise completion of the 5 MTPA Kalinganagar expansion and free cash flow was Rs 4,809 crores. We reduced our leverage by ~Rs 3,900 crores this quarter and our Net debt stands at Rs 67,810 crores.
We were successful in maintaining our interest cost despite the 250bps increase in benchmark interest rates. Our financial metrices continue to be within our medium-term targets, with Net debt to EBITDA at 2.07x and Net debt to equity at 0.61x. We remain focused on cost optimisation, operational improvements and working capital management to maximise cashflows and will aim to resume our deleveraging journey in FY2024.
The Board has recommended dividend of Rs 3.60 per share.” Disclaimer: Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied.
Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.
For media enquiries contact: Sarvesh Kumar Tel: +91 98301 71705 E-mail: [email protected] About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world The group recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023 A Great Place to Work-Certified TM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000 Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030. The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025′. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants. Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023 The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016 Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteel TM Certification Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet’s India’s top 500 companies 2022, No.1 brand in India in the Mining and Metals industry in Top 100 brand rankings for 2022 by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute Recognised with 2022 ERM Global Award of Distinction, ‘Masters of Risk’ – Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others
Photographs: Management and Plant facilities Logos: Files and usage guidelines Website: www.tatasteel.com and www.wealsomaketomorrow.com Follow us on
What is the result of Tata Steel Q2?
Tata Steel Q2 Results: Cons PAT nosedives 87% YoY to Rs 1,514 crore, misses estimates – The Economic Times.
Will Tata Steel give dividend in 2023?
Industrials stocks do not always pay a dividend but as Tata Steel Ltd pays dividends to reward its shareholders. In the quarter ending March 2023, Tata Steel Ltd has declared dividend of ₹3.60 – translating a dividend yield of 45.27%.
When Tata Steel dividend will be credited 2023?
Tata Steel: – Tata Steel is set to pay a final dividend of ₹ 3.6 per share to its shareholders from the net profit of fiscal year FY23. In percentage terms, the dividend payout is 360%. The company’s stock price will turn ex-dividend on June 22, 2023. The dividend is subject to shareholders’ approval which will be sought in the Annual General Meeting (AGM) of the company scheduled on July 5, 2023.
- If approved, Tata Steel plans to pay the dividend benefits on and from July 10, 2023.
- On June 14, ICICI Direct added Tata Steel to its gladiator stocks list.
- It recommended a target price of ₹ 125 apiece for the stock with a stop loss of ₹ 106 apiece.
- The buying range is recommended to be between ₹ 110-113.
On Wednesday, Tata Steel’s share price closed at ₹ 113.90 apiece, lower by 0.35% on BSE, That being said, there is a potential upside of 10% in Tata Steel stock. ICICI Direct sets 3 months for the stock to achieve the target price. In its note, ICICI Direct said, “The Metal index, in the last couple of months, witnessed a steady pullback after the January-February 2023 sharp corrective decline.
Many quality stocks in the metal sector have undergone healthy price/time correction and are now offering a favourable risk-reward setup. Within the metal stocks, we remain constructive on metal heavyweight Tata Steel as it is resolving above the last three month’s triangular consolidation signalling resumption of up move.
Hence, it provides a fresh entry opportunity.” Further, the brokerage’s note added that buying demand has recently emerged after a higher base at the 200 days EMA and the 80% retracement of the September 2022- January 2023 up move ( ₹ 95-124). Key observation is that the stock in the smaller time frame has already taken five months to retrace just 80% of the preceding three month’s up move ( ₹ 95-124).
Is Tata Steel splitting?
Tata Steel Ltd. Tata Steel had last split the face value of its shares from Rs 10 to Rs 1 in 2022. The share has been quoting on an ex-split basis from July 28, 2022.
What is the result of Tata Steel Q3 2023?
Q3 Results 2023: Tata Steel reports Rs 2,502 crore net loss ; SJVN net up 22%, P&G profit dips. Q3 Results 2023: Several listed companies declared their December quarter results on Monday. Among them was Tata Steel reported net loss of Rs 2,501.95 crore for the December quarter.
What is the total bonus of Tata Steel?
Tata Steel Jamshedpur announces Rs 317.51 crore annual bonus for 23710 employees
- Company to pay Rs 20,000 as goodwill amount to each employee
- 12213 Jamshedpur employees to get Rs 188.64 crore
- Tata Steel employee to get minimum bonus of Rs 41,448, maximum Rs 4,58,411
- Bonus amount to be credited to employees bank account on Sep 15
- Jamshedpur, Sep 9: The Tata Steel management and Tata Workers Union signed a Memorandum of Settlement on Friday, September 9, 2022 for payment of Annual Bonus for the accounting year 2021-22 and subsequent accounting years up to accounting year 2023-24.
- The memorandum was signed by T V Narendran, CEO & Managing Director, Tata Steel and Sanjeev Choudhary, President, Tata Workers` Union.
- The company announced an annual bonus of 20 percent for the year 2021-22 compared to 16% during the previous year.
The total amount thus available for disbursement as annual bonus to applicable Divisions or units of the Company for the accounting year 2021-22 is Rs 317.51 crore. In view of superior company performance during financial year 2021-22 and efforts put in by all the employees during the COVID period, on request of the union a goodwill amount of Rs 20000 per person will also be paid over and above the annual bonus amount arrived above. The bonus amount has been increased by around 47.23 crore as compared to last year. Last year, Rs 270.28 crores bonus was disbursed by Tata Steel for its eligible employees for the year 2020-21.
- This is the first time the bonus amount has exceeded Rs 300 crore.
- The bonus formula will be applicable till 2024.
- The minimum and maximum annual bonus payable for 2021-22 will be Rs 41,448 + Rs 20,000 and Rs 4,58,411+ Rs 20,000 respectively.
- According to Union officials the bonus amount will be credited to employees’ bank account by 15 September, 2022.
- Total number of employees to whom the bonus will be paid in Jamshedpur including Tubes is 12,213 while total of 23,710 employees of the company from all locations will be benefitted.
Of the Rs 317.51 crore bonus amount, Jamshedpur and Tube Division employee will get Rs 188.64 crore in comparison to Rs 158.31 crore they received last year. Total bonusable amount for the financial year 2021-22 is Rs 1587.55 in comparison to Rs1631.62 crore in the previous year.
- Average bonus amount for Jamshedpur and Tubes Divison comes up at Rs 1,54,457 +Rs 20,000.
- According to union officials, the maximum bonus at actual attendance for Old Series is Rs 4,58,411+ Rs 20,000.
- Maximum bonus at actual attendance for NS Series is Rs 1,16,527 + Rs 20,000 while minimum bonus at full attendance for NS Series is Rs 41,448 + Rs 20,000.
Since majority of employees of the Steel Company are drawing salary/wages higher than the limit laid down in the Payment of Bonus (Amendment) Act, 2015, they are not eligible for bonus under the Act. However, respecting old traditions, the Company is going to pay bonus to all employees in the unionized category.
Also present during the signing of the bonus agreement were Atrayee Sanyal, Vice President (HRM) and other Sr. Executives on management’s behalf and Shailesh Kumar Singh, Dy. President, Tata Workers’ Union, Satish Kumar Singh, General Secretary, Tata Workers’ Union and the other office bearers signed on Union’s behalf in presence of Rajesh Prasad, Dy.
Labour Commissioner, Jamshedpur and Conciliation Officer, Govt. of Jharkhand. : Tata Steel Jamshedpur announces Rs 317.51 crore annual bonus for 23710 employees
Is Tata Steel good for long term?
Benchmark stock indices Sensex and Nifty closed higher on Monday as correction in IT stocks offset the heavy buying in index major Reliance Industries, The Sensex gained 63 points to settle at 65,344, while Nifty advanced 24 points to end at 19,355. Stocks that were in focus include names like Tata Steel, which gained 3.27%, Cyient, which declined 4.91% and Gland Pharma, whose shares rose 3.72% on Monday.
Here’s what Vikas Jain, Senior Research Analyst at Reliance Securities, recommends investors should do with these stocks when the market resumes trading today: Tata Steel – Buy The stock closed at a 4-month high with strong volumes and positive price action trending above its short and medium-term averages.
It is on the verge of a longer breakout from its long-term consolidation and poised for a fresh up move. Its higher bottoms on weekly charts protect the downside from current levels and risk-reward is in favour of longs. We expect the stock to re-test the intermediate highs of Rs 125 levels over the next few weeks.
- Cyient – Book Profits A strong outperformer in the midcap IT sector, the stock surpassed its previous top and scaled a new all-time high.
- It witnessed a corrective action and slipped below the short-term averages after a lower top formation.
- There could be a price retracement of the previous up move and we expect the stock to test the lower band of weekly averages near Rs 1225-1250 levels.
RSI has also reversed from its higher range and expects to follow through along with the price move. Gland Pharma – Hold The stock has witnessed a vertical fall from its all-time high of Rs 4,350 levels in Aug’21 to a low of Rs 861 in May’ 23 over the past 21 months.
- Higher bottoms on monthly charts with positive price action and strong volumes indicate some strong buying at lower levels.
- On the higher side, the gap areas of Rs 1180-1200 will act as resistance; sustenance above these would give a strong breakout.
- One can hold the position with a stop of Rs 970 from current levels.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets,
Is Tata Steel good to buy now?
Tata Steel stock rallied on the possibility of an uptick in the Chinese economy, but currently, the stock appears to be in a consolidation mode. – ₹ 138.63 on BSE on April 6, 2022.” fetchpriority=”high” srcset=”/_next/image?url=https%3A%2F%2Fimages.livemint.com%2Fimg%2F2023%2F02%2F24%2F1260x709%2Fscott-graham-5fNmWej4tAA-unsplash_1639049660507_1677221726267_1677221726267.jpg&w=1200&q=75 1x, /_next/image?url=https%3A%2F%2Fimages.livemint.com%2Fimg%2F2023%2F02%2F24%2F1260x709%2Fscott-graham-5fNmWej4tAA-unsplash_1639049660507_1677221726267_1677221726267.jpg&w=3840&q=75 2x” src=”https://localhost/_next/image?url=https%3A%2F%2Fimages.livemint.com%2Fimg%2F2023%2F02%2F24%2F1260x709%2Fscott-graham-5fNmWej4tAA-unsplash_1639049660507_1677221726267_1677221726267.jpg&w=3840&q=75″ decoding=”async” data-nimg=”intrinsic”> Tata Steel stock hit its 52-week high of ₹ 138.63 on BSE on April 6, 2022. A majority of analysts believe one should buy shares of Tata Steel at this point due to favourable fundamental and technical factors. Shares of the company have underperformed the BSE Metal index and the equity benchmark Sensex in the last one year. The stock hit its 52-week high of ₹ 138.63 on BSE on April 6, 2022. At the current juncture, the stock is down about 19 percent from its 52-week high level. In the last one year, shares of the company have gained just over 2 percent while the BSE Metal index and the BSE Sensex have gained over 6 percent and 9 percent, respectively. Tata Steel share price in the last one year. The stock’s trailing twelve months (TTM) price-to-earnings ratio (PE) is still above the industry median. As per Trendlyne, the stock’s TTM PE ratio stands at 8. The current PE of the stock, as per the BSE is 7.
Tata Steel has not announced any Bonus Issue since 2018.
What is record date of Tata Steel 2023?
Tata Steel Dividend 2023 Payment Date – Tata Steel has also fixed the dividend payout or credit date. Tata Steel dividend 2023 payment date is July 10, 2023 (Monday), according to exchange data. The dividend amount of Rs 3.60 per share will be credited directly into the bank accounts of eligible shareholders linked to their Demat accounts.
What is the future target of Tata Steel in 2023?
|When||Maximum Price||Minimum Price|
Tata steel in 2023 is up by 3.20% YTD and is currently trading at Rs.122 with a marketcap of 1.51LCr. We expect Tata steel to grow by 4-5% in the next 6 months. The maximum price Tata Steel is predicted to reach is ₹132.36 in December 2023, while the minimum price is expected to be ₹102.26 in March 2023, Currently, Tata steel is down by 1.5% from its 52 weeks high. Over the past three years, Tata Steel has shown a compounded sales growth rate of 18%, indicating a positive trend in revenue generation.
What is the target of Tata Steel?
Stock price target for Tata Steel Limited TATASTEEL are 122.08 on downside and 123.68 on upside. –
|Tomorrow Target 1||121.7|
|Tomorrow Target 2||122.45|
|Tomorrow Target 3||123.3|
|Tomorrow Target 4||124.05|
|Tomorrow Target 5||124.9|
Should I buy Tata Steel after split?
Tata Steel shares are going to trade ex-split on Friday as board of directors of the company has fixed record date for Tata Steel share split on 1st August 2022. The Tata group company has announced Tata Steel stock split in 10:1 ratio. Ahead of trading ex-split, Tata Steel share price today opened upside and went on to hit intraday high of ₹ 100.35 apiece levels on NSE, logging near 4 per cent rise in early morning deals on Thursday.
- According to stock market experts, Tata Steel would continue to reap the benefit of better demand in the domestic market due to revival in the auto sector but much will depend upon the steel price revival in the European markets.
- If the steel price fails to rebound inn the European merchandise, then in that case commodity stock may come under pressure due to the pressure on its margins.
Advising positional investors to maintain buy on dips strategy in regard to Tata Steel shares, Sumeet Bagadia, Executive Director at Choice Broking said, “Stock market investors can maintain buy on dips strategy in this steel stock for around 25 per cent to 40 per cent upside in next 3 to 5 months.” The Choice Broking analyst went on to add that traders can take position in the counter maintaining stop loss at ₹ 90 for ₹ 115 target whereas positional investors can buy the counter and keep on adding on dips maintaining stop loss at ₹ 85 apiece levels.
Tata Steel stock may go up to ₹ 125 apiece levels in next 3 months. Speaking on Tata Steel share price outlook, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Despite steep decline in steel prices in the European and other international markets, Tata Steel has managed to deliver better Q1 numbers.
This is because of the improving sentiment in the auto sector. It is expected to fuel demand for the company in domestic markets in next 2 to 3 years. However, its margins may have to face pressure in upcoming quarters if the steel prices doesn’t rebound in European and other markets like China and the US.” “Tata Steel Ltd.
- Has started trading EX Split starting from today.
- We have a neutral view on the company from a short to medium-term perspective as the normalization of profitability has commenced due to the steel prices witnessing a cool-off, the subdued global demand because of the rate hike regime by the global central banks, and the export duty imposed by the GOI which will create a supply glut in the domestic markets,” said Punit Patni, Equity Research Analyst, Swastika Investmart.
However, Punit Patni went on to add that long-term investors with moderate to high-risk appetite can accumulate the stock on dips as the demand outlook remains positive in the long term and Indian steel makers are expected to gain due to curtailment of steel production by China and their competitive advantage in terms of low iron ore and labor costs.
Tata Steel stock split To increase liquidity in Tata Steel stocks, the company board of directors approved stock split citing, “The Board considered the proposal for sub-division of 1 equity share of the Company having face value of ₹ 10/- each into 10 (Ten) equity shares having face value of Re 1/- each.” The company board went on to add that the decision would enable it to widen its shareholders base and make the stock more affordable.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. More Less Updated: 28 Jul 2022, 10:31 AM IST
What is 10 to 1 stock split Tata Steel?
Tata Steel stock split: What is the new target price? Shares of Tata Steel led the market rally today after the stock turned ex-split on July 28. The stock split in the ratio of 1:10 has awarded 10 shares in the hands of shareholders for each share they owned.
- Hence, the value of the Tata Steel stock has gone down by 1/10th after the stock split.
- For example, Tata Steel stock was trading near Rs 1,000 before the stock split on Thursday.
- Currently, the stock is trading at Rs 106.80, up 6.43 per cent.
- After the split, the fresh data for the yearly high reflects 1/10 th of the previous value.
The numbers of shares have increased by 10 times for those holding the stock. Similarly, the stock before the split had logged a 52-week high of Rs 1,534.60 on August 16, 2021 and a 52-week low of Rs 827.10 on June 23, 2022. BSE website shows the stock hit a 52-week high of Rs 153.46 on August 16, 2021 and a 52-week low of Rs 82.71 on June 23, 2022.
- The historical data for the Tata Group share has also got adjusted for the stock split.
- ALSO READ: However, the total amount invested remains unchanged.
- This gets reflected in the market capitalisation of the firm.
- Market cap of the firm rose to Rs 1.30 lakh crore with a 6.73 per cent rise in the stock in the afternoon session today.
Before the stock split, the market cap of the firm stood around Rs 1.20 lakh crore on BSE. Companies conduct stock splits primarily to make their shares more affordable for investors. ALSO READ: Meanwhile, the stock hit an intraday high of Rs 109.30, rising 8.92 per cent against the previous close of Rs 100.35 on BSE.
- The stock was the top Sensex gainer today.
- It opened with a gain of 2.64 per cent at Rs 103.
- Later, it closed at Rs 107.80, rising 7.42 per cent on BSE.
- Here’s a look at what experts said about the outlook for the stock.
- Ajit Mishra, VP-Research, Religare Broking “In line with other metal counters, Tata Steel has also rebounded swiftly in the recent weeks and the momentum has intensified post the stock split.
We feel a breakout above the key resistance zone of major moving averages (100 EMA, 200 EMA) is fuelling the surge now. Going ahead, sustainability above Rs 105 would help the stock to maintain the prevailing bias and gradually inch towards the Rs 115-Rs 120 zone.” Tirthankar Das, Head of Technical Research, Ashika Group “Shares of Tata Steel have witnessed buying demand in the last one month forming higher peak and higher trough in the weekly time frame.
Recent surge in prices has led the stock to form a bullish ‘Rounding bottom’ formation in daily chart with the crucial neckline resistance seen around Rs 108-Rs 110. The pattern signifies a reversal in long-term price movement. Volume and price are moving in tandem, thus confirming price action. Hence, long-term investors can accumulate the stock when the neckline of the pattern is broken with target measuring the height of the actual pattern i.e.
around Rs 125.” Pavitraa Shetty, Co-founder & Trainer, Tips2Trades “Despite expectations of muted Q1FY23 earnings, Tata Steel stock price has risen consecutively for the past few sessions due to a sharp uptrend in global markets despite clear signals that Europe & US could have surely entered into a recessionary period.
Will Tata Steel go up after split?
A stock split is a corporate action that alters the existing shares of a company. When a company announces to split its stock, the number of outstanding shares increases while the price of each share decreases. Accordingly, Tata Steel share price will come down by one-tenth on the day of the split.
Does Tata Steel have a future?
Tata Steel (NSEI:TATASTEEL) Stock Forecast & Analyst Predictions Tata Steel is forecasted to grow earnings and revenue by 55.2% and 2.1% per annum respectively. EPS is expected to grow by 55%. Return on equity is forecast to be 13.3% in 3 years.55.2% Earnings growth rate
|Metals and Mining earnings growth||24.7%|
|Revenue growth rate||2.1%|
|Future return on equity||13.3%|
|Last updated||27 Jul 2023|
table> NSEI:TATASTEEL – Analysts future estimates and past financials data (USD Millions)
Earnings vs Savings Rate: TATASTEEL’s forecast earnings growth (55.2% per year) is above the savings rate (6.8%). Earnings vs Market: TATASTEEL’s earnings (55.2% per year) are forecast to grow faster than the Indian market (16% per year). High Growth Earnings: TATASTEEL’s earnings are expected to grow significantly over the next 3 years. Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No.337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs.
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: Tata Steel (NSEI:TATASTEEL) Stock Forecast & Analyst Predictions
Is Tata Steel over valued?
Is TATASTEEL stock undervalued or overvalued? Compared to the current market price of 119.95 INR, Tata Steel Ltd is Undervalued by 21%.
What is the future of Tata Steel stocks?
View 31 reports from 9 analysts offering long term price targets for Tata Steel Ltd Tata Steel Ltd. has an average target of 124.67. The consensus estimate represents an upside of 3.37% from the last price of 120.60.
Tata steel in 2023 is down by 3.10% YTD and is currently trading at Rs.111 with a marketcap of 1.41LCr. We expect Tata steel to grow by 5% in the next 6 months. The maximum price Tata Steel is predicted to reach is ₹128.36 in December 2023, while the minimum price is expected to be ₹102.26 in March 2023.
What is expected result of Tata Steel?
Tata Steel Q4 results preview: 90% plunge in profit likely for Tata group firm as Europe drags Tata Steel is likely to report a up to 99 per cent plunge in consolidated net profit for the March quarter on a 12-14.5 per cent fall in revenues, dragged by losses in Europe business, a couple of brokerages anticipated.
Earlier this month, Tata Steel said it recorded a 3 per cent rise in consolidated steel production at 7.77 million tonne (mt) in the March quarter. The company’s total steel output stood at 7.55 mt in the year-ago period. The steel maker added that its India unit achieved crude steel production of 5.15 mt for the quarter, up 3 per cent sequentially.
On the other hand, Tata Steel Europe’s steel deliveries rose 7 per cent sequentially to 2.13 mt on improved demand environment but its product mix was affected due to the upgradation at CM21 (Cold Rolling mill). ICICI Securities said it sees Tata Steel’s standalone operations to report an Ebitda per tonne of Rs 13,250 per tonne compared with Rs 11,350 per tonne in Q3FY23.
- For Q4FY23, it expects European operations to report a loss at the Ebitda per tonne level.
- For Q4FY23E, European operations are likely to report negative Ebitda per tonne of $110, it said.
- For Q4FY23E, on a consolidated basis, top line is expected to decline 14 per cent YoY but rise 5 per cent QoQ to Rs 59,854 crore.
Tata Steel’s consolidated Ebitda for Q4FY23E is expected to increase 32 per cent QoQ to Rs 53,64 crore. Consolidated Ebitda margins for Q4FY23E are likely to come in at 9 per cent compared to 7.1 per cent in Q3FY23. Ensuing consolidated PAT for Q4FY23E is likely to come in at Rs 443 crore, down 95 per cent,” ICICI Securities said.
Tata Steel shares have dropped 10 per cent this year so far. This is against a 6 per cent fall in the BSE Metals index. In the last five days, the stock is up 2 per cent against a 1.3 per cent rise in the benchmark index. Nuvama expects Tata Steel’s profit at Rs 192.20 crore against Rs 10,030 crore, down 98 percent YoY.
It sees sales at Rs 59,299 crore, down 14.5 per cent YoY. “We expect Tata standalone Ebitda per tonne to increase by 35 per cent QoQ to Rs 13,998/tonne owing to improvement in realisation and volume and a 10 per tonne QoQ dip in coking coal price. Tata steel Europe may report a negative Ebitda per tonne of $107 per tonne compared to minus $95 per tonne in Q3FY23 due to lower realisation, partly offset by lower CoP,” Nuvama said.
Phillip Capital sees adjusted profit at Rs 170 crore. Sales are seen dropping 14.8 per cent YoY to Rs 59,089 crore. Volume is likely to be higher sequentially at 7.6 million tonnes against 7.2 million tonnes in the December quarter but lower than 8 million tonnes in the year-ago quarter. “Overall Ebitda per tonne may improve driven by domestic business (Europe continues to make losses at operational level),” Phillip Capital said.
Elara Securities expects Tata Steel to report a profit of Rs 100 crore for the March quarter. Revenue for the quarter is seen falling 12.5 per cent YoY to Rs 60,117 crore from Rs 68,711 crore in the year-ago quarter.
“For Tata Steel, while standalone margin is expected to witness improvement, weak performance in Europe would result in limited uptick in consolidated margin,” it said.For Tata Steel’s Europe division, Kotak Institutional Equities pegged Ebitda loss of $111 per tonne, led by weaker prices and stable costs.Also read:
Published on: May 02, 2023, 8:07 AM IST Posted by: Tarab Zaidi, May 02, 2023, 8:05 AM IST
What is the result of Tata Steel Q4?
Tata Steel Q4 Results: Profit falls 82% YoY to Rs 1,705 crore; revenue drops 9% – The Economic Times.
What are the expectations of Tata Steel Q4?
Tata Steel Q4 results expectations: What to expect from the steel manufacturer? The company’s is expected to decline by 14.3 per cent to Rs 59,418 crore compared with the year-ago period. The company is likely to report EBITDA per ton at Rs 13,107 crore against Rs 11,241 crore in the previous quarter.