What should investors do with Tata Steel post Q2 results: Buy, sell or hold?
Nov 17, 2020
What should investors do with Tata Steel post Q2 results: Buy, sell or hold?

share price touched 52-week high of Rs 511, adding nearly 4 percent in the early trade on November 17 after the company reported its September quarter earnings.

On November 13, the company reported a 59.6 percent year-on-year (YoY) fall in Q2FY21 profit at Rs 1,635.4 crore, against Rs 4,043.5 crore in the corresponding quarter a year ago.

Total revenue from operations stood at Rs 37,154 crore against Rs 34,579 crore YoY. EBITDA stood at Rs 6,217 crore against Rs 3,893 crore YoY.The research house has remained overweight and target raised to Rs 690 from Rs 565. The management has been exceeding commitments with respect to deleveraging.The potential sale of Netherlands operations could help improve balance sheet and to give flexibility to pursue growth capex in India. It raised FY21-23 EBITDA estimates by 8-23%, reported CNBC-TV18.



SKILL NEWS