Profit

BSE Code: | NSE Code: | ISIN: | Sector:

NSE
480.25
Change Change %
5.20 1.09%

Updated:23 Jan, 2020, 15:59 PM IST

BSE
480.35
Change Change %
5.55 1.17%

Updated:23 Jan, 2020, 16:01 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
HDFC Securities
N/A
21-09-2017 Buy 689.50 818.00
N/A
Closed Long (1Y)
21-09-2018

HDFC Securities maintains buy on Tata Steel

Tata Steel Europe (TSE) and Thyssenkrupp Steel Europe (TKA-SE) will merge their assets into a 50:50 JV. The resultant entity will be the 2nd largest European steelmaker with vertically integrated operations in Port Talbot (UK), Ijmuiden (Netherlands) and Duisburg (Germany), driving significant consolidation. Synergies of EUR 400-600mn are expected by FY20, driven mainly from the optimization of duplicate functions like admin, sales, and procurement, in addition to efficiencies in logistics and bundling of R&D functions. For Tata Steel, the JV implies significant derisking of its operations from volatility in Europe and reduction in net debt (EUR 2.5bn).

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