09-Nov-2026 08:32:50
TATASTEELGeneral news
Nuvama on Tata Steel ; Upgrade to Buy, TP 219
Inline stdlne EBITDA; +9.6% QoQ led by vols (+16%). EBITDA/tn @INR 17.2k. Mgmt guided INR 3.5k/$20 QoQ/tn +ve pricng for steel/coal in3Q; implying better profits in 3Q. Netherlands EBITDA ++ amid higher steel prices & lower CoP (DSP restart). UK losses widened due to lower vols; can breakeven in 4Q. Raised FY27E/28E EBITDA by 2%/9% to factor higher prices & iron ore sales.
TATA STEEL LIMITED