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Tata Steel: Better-than-expected performance lifts street sentiments

Weak steel demand, high debt are among concerns that weigh on forward outlook

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Tata Steel | Markets | Coronavirus

Ujjval Jauhari  |  New Delhi 

Shares of Tata Steel rallied 5 per cent in intra-day trading on Tuesday, after the steel major posted better-than-expected operating performance for the March quarter (Q4). However, it ended the day only 1.7 per cent higher, as concerns over demand and debt weighed on Street sentiment.

While the impact of Covid-19 was evident on Q4 numbers, the beat in consolidated operating performance was led by the turnaround of Bhushan Steel’s operations (now Tata Steel BSL), operating efficiencies, and a good show by its European business (Tata Steel Europe). Tata Steel India’s ...

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First Published: Tue, June 30 2020. 15:16 IST
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