On 17th November, Tata steel share price was massively 52 week high of Rs 511, adding nearly 4 per cent in the early trade.
The company reported this in their September quarter earnings.
On 13th November the company reported a fall of 60 per cent in the year on year which means the profit was Rs 1,635.4 crore.
And if wee the profit of the last year then it was Rs 4,043.5 crore.
Clearly there is a huge gap which shows that the company is badly hit by the pandemic.
Total revenue from operations stood at Rs 37,154 crore.
Let’s see what the brokerages have to say about the September quarter earnings:
1. Morgan Stanley: the target has raised from to Rs 690 from Rs 565 and the research house has remained overweight.
The operation of Netherlands can give some good momentum to the company and can bring back the company into more profits.
2. Jefferies: The target is Rs 680 from Rs 485. The potential sale of Netherlands plant can drive value unlocking.
3. Motilal Oswal: they have kept a target of Rs 456. the positive thing right now is the Netherlands operations because that id going pretty well.
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