Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Steel    TATASTEEL   INE081A01012

TATA STEEL (TATASTEEL)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

thyssenKrupp : Tata Steel ThyssenKrupp JV delayed to December 2018 after labour unions raise concerns

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/20/2018 | 02:51pm CEST

ThyssenKrupp has delayed its merger with Tata Steel to December 2018 over delays in reaching labour agreements over job guarantees. Thyssenkrupp’s labour union has asked for safeguards that they would not be disadvantaged by the merger. While the deal does not require the approval of ThyssenKrupp’s labour union, it is necessary to prevent operational disruptions in the future.

ThyssenKrupp and Tata Steel had signed an agreement on September 20, 2017 to form a 50:50 Joint Venture. This newly created entity would become the second largest European steelmaker after Arcelor Mittal Europe. The management of Tata Steel expects the JV to create cost synergies of 400-600mn euros (Rs3,200-4,800cr) per annum through reduction of costs and better utilisation of downstream operations.

We feel that this delay does not endanger the deal as the economics for the merger would create an entity with better scale and would thus be more competitive than each separate entity. We also feel that while the delay in the merger may affect earnings in FY19E, it would however, not impact the earnings in FY20E.

Tata Steel Ltd (TSL) would benefit from (a) ~2% volume growth in domestic steel production supported by spending on infrastructure and (b) steel spreads to stabilise in medium term due to domestic demand. The company is expected to see revenue and EBITDA CAGR of 2.8% and 8.9% over FY18-20E respectively with an EBITDA margin of 17.7% in FY20E. EBITDA margins are also likely to expand by ~192bps owing to better utilization levels and cost rationalisation for Tata Steel Europe. The stock is currently trading at 7.1x FY20E EPS.

TSL is an international steel company with a manufacturing presence in Europe and Asia. The total steel capacity for the company stands at 27.5mn tonnes. The company is planning to upgrade the Kalinganagar plant, which would take the domestic steel capacity of TSL to ~18mn tonnes. Domestic steel production stood at 12.48mt in FY18, up 6.8% yoy. Steel production for TSL Europe stood at 10.68mt in FY18.

(c) 2018India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TATA STEEL
04/20THYSSENKRUPP : Tata Steel ThyssenKrupp JV delayed to December 2018 after labour ..
AQ
04/20TATA STEEL : organises National Fire Service Week
AQ
04/20TATA STEEL : 02/Ot/Rites/Tata Steel/ Vehicle/2018
AQ
04/19GLOBAL FERROCHROME MARKET 2018- EURA : 9strategy.biz added a depth and professio..
AQ
04/18TATA STEEL : Organises National Fire Service Week
AQ
04/18TATA STEEL : Odisha's New Duburi grid line boost for Tata Steel
AQ
04/17EGYPTIAN IRON & STEEL : waits Britain's Tata Steel respond on restructuring stud..
AQ
04/17Vedanta gets regulatory nod for Electrosteel takeover
RE
04/17TATA STEEL : Pratik Chaudhari signs for Jamshedpur Football Club
PU
04/17TATA SPONGE IRON : Q4FY18E Result Expectation
AQ
More news
Financials ( INR)
Sales 2018 1 289 B
EBIT 2018 155 B
Net income 2018 56 164 M
Debt 2018 683 B
Yield 2018 1,43%
P/E ratio 2018 10,61
P/E ratio 2019 8,77
EV / Sales 2018 1,21x
EV / Sales 2019 1,13x
Capitalization 881 B
Chart TATA STEEL
Duration : Period :
Tata Steel Technical Analysis Chart | TATASTEEL | INE081A01012 | 4-Traders
Technical analysis trends TATA STEEL
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 808  INR
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
Natarajan Chandrasekaran Chairman
Koushik Chatterjee Chief Financial Officer & Group Executive Director
Ashok Kumar Chief Technology Officer-Process
Vinay V. Mahashabde Chief Technical Officer-Flat Products
Sector and Competitors
1st jan.Capitalization (M$)
TATA STEEL-12.84%13 304
ARCELORMITTAL4.87%35 869
POSCO--.--%28 491
NIPPON STEEL & SUMITOMO METAL CORP-17.77%21 385
NUCOR2.44%20 215
FOSUN INTERNATIONAL LIMITED-4.03%18 192