Reduce Tata Steel, target of Rs 146: Angel Broking
Angel Broking has downgraded its rating on Tata Steel from neutral to reduce with a target price of Rs 146 in its February 27, 2009 research report. “For 3QFY2009, Tata Steel posted yoy consolidated Top-line growth of 4% to Rs 33,191 crore (Rs 31,899 crore). Revenues grew despite the 30% production cuts announced by Corus during October 2008, mainly due to higher realisations. Consolidated Net Profit fell 39% yoy to Rs 814 crore (Rs 1,325 crore) beating street expectations. We continue to value Tata Steel at P/B of 0.3x and arrive at the Fair Value of Rs 146. Hence, we downgrade the stock from Neutral to Reduce,” says Angel Broking’s research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click on the attachment……
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
