/ Tata Steel Trades Lower With Huge Volume ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 18 May 2017


After trading in positive territory for the first few minutes of Thursday’s trading session, the Tata Steel Limited has slipped to touch intraday low of Rs 488 per share down by around 1%. The stock is still trading marginally lower by around 0.4%.

The stock has attracted the traded volume of 83,66,244 shares and traded value of Rs 411.64 Cr as of 1205 hours on NSE in Thursday’s trade.

The company recently posted its financial results for the quarter ended March 31, 2017, which exceeded the analyst’s expectations by a big margin.

As per the reports by the leading national daily, the Tata Steel’s Q4 results were sharply higher than the street estimates, driven by improved market conditions in Europe, improvement in ferroalloy volumes and realisations and positive steps taken on the UK pension scheme.

The strong cash flows of the company supported the approximately Rs 43 billion reductions in net debt in Q4 FY17. As per the market analysts, this trend should continue, led by healthy operating cash flow and subdued CapEx.

As per the market experts, better realisations (Rs2600/t increase QoQ vs Rs2250/t estimated) led by higher volumes and pricing at ferrochrome operations contributed to the 8% revenue beat.

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