Tata Steel Lts Q3 ResultsTata Steel has released its December 2021 quarter results on 4 February. The company’s net profit grew 159% to Rs 9573 crore in the third quarter. The company’s net profit in the same quarter a year ago was Rs 3697 crore. Whereas the company’s net profit after paying taxes a quarter ago was Rs 11,918 crore. The country’s largest steel company’s consolidated revenue grew 45% to Rs 60,783 crore in the third quarter. The company’s consolidated revenue stood at Rs 41,935 crore in the same quarter last year.
The company had benefited from the rise in steel prices in the December 2021 quarter. Shares of Tata Steel closed at Rs 1176.3 crore, up 9.7% on Friday, 4 February. The return of Tata Steel shares was 79% in the last one year. While its shares have gained 2.3% in the last one month.
Let’s know what is the opinion of the brokerage on this stock after the third quarter results
Giving Buy Rating on TATA STEEL, INVESTEC has fixed the target of this stock at Rs 2000 per share. The brokerage firm has said in its released report that the third quarter has performed as expected. Capital allocation in the European business will be monitored. The company expects domestic steel prices to remain strong.
SBI’s stock got wings due to good results, buy, sell or remain, know what is the opinion of the brokerage
Meanwhile, JP Morgan said that the Q3 results have been better than expected and there has been a significant reduction in debt. Steel prices continue to rise. Europe has had flat volumes, although energy costs have been high. The brokerage has given Overweight Rating opinion on this stock and has given a target price of Rs 1850 for the stock.
At the same time, CLSA has said that Q3 EBITDA has been in line with estimates. CLSA said it was surprised by the profits of the domestic business. European profits have been impacted by higher energy costs. The company has reduced debt in the third quarter. Giving Buy rating to this stock, CLSA has fixed its target at Rs 1820 per share.
At present, around 10.56 pm, the share of Tata Steel is trading at a level of Rs 1208.55 with a gain of Rs 32.35 or 2.75 per cent on the NSE. Today this stock opened at the level of Rs 1,168.30. On the other hand, the stock closed at Rs 1,176.30 in Friday’s trade. The 52 week high of this stock is at Rs 1,534.50 while its 52 week low is at Rs 651.40. The market cap of the company is Rs 147,548 crore.
,