09-Nov-2026 08:31:53
TATASTEELGeneral news
CLSA on Tata Steel ; O-P, TP Rs 225
2Q Ebitda (+14% QoQ/+18% YoY) was ahead of estimate on India and Netherlands profitability, while UK remained a drag Expect earnings momentum to strengthen in 2H, supported by higher India volume and prices, improving Netherlands operations and the UK moving towards breakeven (guided by 4QFY27). It expects India 3Q realisations to be up c.Rs3,500/t QoQ, partly offset by c.US$15/t higher coal costs. Near-term growth will be supported by downstream mix improvement, higher iron ore sales and structural cost savings, before upstream capacity comes on stream.
TATA STEEL LIMITED