Total income zoomed to Rs 53,534.04 crore during the quarter under review from Rs 25,662.43 crore a year ago.
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); glbbid=v.id; } }); } }); } else { AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function commonPopRHS(e) { /*var t = ($ (window).height() – $ (“#” + e).height()) / 2 + $ (window).scrollTop(); var n = ($ (window).width() – $ (“#” + e).width()) / 2 + $ (window).scrollLeft(); $ (“#” + e).css({ position: “absolute”, top: t, left: n }); $ (“#lightbox_cb,#” + e).fadeIn(300); $ (“#lightbox_cb”).remove(); $ (“body”).append(”); $ (“#lightbox_cb”).css({ filter: “alpha(opacity=80)” }).fadeIn()*/ $ (“#myframe”).attr(‘src’,’https://accounts.moneycontrol.com/mclogin/?d=2′); $ (“#LoginModal”).modal(); } function overlay(n) { document.getElementById(‘back’).style.width = document.body.clientWidth + “px”; document.getElementById(‘back’).style.height = document.body.clientHeight +”px”; document.getElementById(‘back’).style.display = ‘block’; jQuery.fn.center = function () { this.css(“position”,”absolute”); 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Tata Steel share price touched a 52-week high of Rs 1,498.45, up 2.5 percent in the early trade on August 16 after the company reported its June quarter earnings.
On August 12, the company posted a consolidated net profit of Rs 9,768.34 crore for the quarter ended June 30, 2021.
It had posted net loss of Rs 4,648.13 crore in the year-ago period.
Total income zoomed to Rs 53,534.04 crore during the quarter under review from Rs 25,662.43 crore a year ago.
Expenses were at Rs 41,397.23 crore as against Rs 29,116.37 crore earlier.
Here is what brokerages have to say about the stock and the company after the June quarter earnings:
Kotak Institutional Equities | Rating: Buy | Target: Raised to Rs 1,750
The research house maintained buy on the stock as the management commentary suggests India margin to sustain in coming quarters and Europe margin could increase by 1-2x from Q1.
Despite growth capex, net debt/ EBITDA is likely to sustain at <1x over FY22-24, while strong steel prices & management guidance to drive the earnings.
JPMorgan | Rating: Overweight | Target: Rs 1,810
JPMorgan has kept overweight call on the stock as Europe to improve sharply over FY22 and India ASP/t to be higher in Q2.
There is a large net debt reduction ahead and see upside risks if Chinese steel production cuts continue.
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CLSA | Rating: Buy | Target: Raised to Rs 1,950 from Rs 1,750
CLSA maintained but rating on a robust outlook for India & Europe. The company plans to catch up with peers on Europe profitability in upcoming quarters.
A working capital rise was due to finished goods inventory build-up, it added.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Motilal Oswal | Rating: Neutral | Target: Rs 1,565
With captive iron ore availability, Tata’s Indian operations are a play on steel prices. Given the prevailing high prices, we expect margin to remain strong. We estimate 2QFY22 EBITDA at Rs 200b (+23% QoQ), with standalone EBITDA/t of Rs 36,574/t (record high).
While TSE’s EBITDA should be strong in FY22, sustenance would be key to meeting its cash outflow requirements (capex, debt, and interest).
Prabhudas Lilladher | Rating: Buy | Target: Rs 1,950
Tata Steel reported Q1FY22 EBITDA above our estimates by 3.5% (in line with consensus estimates) on back of better than expected margins in domestic operations, offset by lower margins in Tata Steel Europe (TSE).
Structurally global steel cost curve would increase by ~US100/t due to higher costs associated with reducing carbon footprint. This coupled with improved outlook on global demand and reduced supplies from China would sustain steel prices on elevated levels in medium term.
At 09:19 hrs Tata Steel was quoting at Rs 1,484.10, up Rs 22.80, or 1.56 percent on the BSE.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
