Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Tata Steel sales volume up 4% in FY2011
For FY2011, Tata Steel's hot metal production increased by 3.8% to 7.5mn tonnes (7.2mn
tonnes in FY2010), while crude steel production came in at 6.9mn tonnes (6.6mn tonnes
in FY2010). In addition, saleable steel production increased by 3.9% to 6.7mn tonnes
during FY2011. Thus, sales volume for FY2011 grew by 4% to 6.4mn tonnes.
For 4QFY2011, the company’s sales volume was flat at 1.7mn tonnes (up by 4.3% qoq).
We remain bullish on Tata Steel for its buoyant business outlook, driven by a) higher sales
volume in FY2013E on completion of its 2.9mn tonne brownfield expansion project in
Jamshedpur, b) backward integration initiatives for Tata Steel Europe (TSE) via
raw-material projects at Mozambique and Canada and c) cost-reduction initiatives at TSE.
We maintain our Buy recommendation on Tata Steel with a target price of `802.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Tata Steel sales volume up 4% in FY2011
For FY2011, Tata Steel's hot metal production increased by 3.8% to 7.5mn tonnes (7.2mn
tonnes in FY2010), while crude steel production came in at 6.9mn tonnes (6.6mn tonnes
in FY2010). In addition, saleable steel production increased by 3.9% to 6.7mn tonnes
during FY2011. Thus, sales volume for FY2011 grew by 4% to 6.4mn tonnes.
For 4QFY2011, the company’s sales volume was flat at 1.7mn tonnes (up by 4.3% qoq).
We remain bullish on Tata Steel for its buoyant business outlook, driven by a) higher sales
volume in FY2013E on completion of its 2.9mn tonne brownfield expansion project in
Jamshedpur, b) backward integration initiatives for Tata Steel Europe (TSE) via
raw-material projects at Mozambique and Canada and c) cost-reduction initiatives at TSE.
We maintain our Buy recommendation on Tata Steel with a target price of `802.
No comments:
Post a Comment