April 26, 2019 / 4:52 AM / 4 months ago

BUZZ-India's Tata Steel rises after Q4 profit beat

** Shares of India’s biggest steel maker Tata Steel Ltd rise as much as 5.5 pct to 538.95 rupees, their biggest intraday pct gain since Jan 30

** Co posts Q4 profit at 24.31 bln rupees ($346.30 mln), beating estimates of 21.30 bln rupees

** Net debt reduced by 62 bln rupees sequentially and domestic expansion and EU restructuring remains on track, Morgan Stanley said in a note

** Jefferies raises target price to 448 rupees from 400 rupees; maintains “overweight”

** Around 11.8 mln shares change hands, vs the 30-day moving avg of 7.2 mln shares ($1 = 70.2000 Indian rupees)

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