Tata Steel stands apart from its peers due to integration initiatives at its European operations and strong domestic performance. Fully-integrated Tata Steel is somewhat shielded from input price fluctuations. Its recent decision to sell Teesside Cast Product for $ 500 million will help in reducing its liquidity concern and lower interest payments. It is also integrating its European operations by taking stake in New Millennium's direct shipping ore (DSO) project, which will supply cheap iron ore to it. It plans to source coking coal from its Benga project in Mozambique. At the current market price of 658, the stock is trading at around eight-and-a-half times of its FY11 expected EPS of 76.8, which is lower than all its peers in steel industry.
Bharat Bond ETF
5 years ago
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