November 14, 2018 / 6:02 AM / 3 months ago

BUZZ-India's Tata Steel hits near 7-week high on strong Q2

** Shares of India’s biggest steel maker, Tata Steel Ltd , rise as much as 3.6 pct to 610.60 rupees, highest since Sept 28

** Q2 net profit grew more than three-fold to 31.16 bln rupees ($428.8 mln), beating market estimates, buoyed by strong domestic growth

** Indian operations continued to shine in Q2, more than offsetting disappointing European performance, says HSBC

** HSBC keeps “buy” rating with PT of 890 rupees

** Morgan Stanley says net debt remains stable sequentially; key positive surprise was better-than-expected realization in domestic business, while costs were in line

** Kotak Institutional Equities maintains “add” and raises TP to 670 rupees from 660 rupees

** About 12.5 mln shares change hands, compared with the 30-day moving avg vol of about 6.5 mln

** Stock down about 10.9 pct this year as of last close

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below