February 12, 2018 / 4:23 AM / 2 months ago

BUZZ-India's Tata Steel rises on Q3 profit jump

** Shares of Tata Steel Ltd rise as much as 4.5 pct to 716 rupees, among top pct gainers on NSE Index

** Q3 profit of 12.94 bln rupees ($201.42 mln) jumps five-fold, boosted by strong volume growth in India and increasing steel prices, co said on Friday

** Macquarie analysts raise stock’s PT by 33 pct to 800 rupees and upgrade rating to “outperform” from “underperform”, citing “improving growth visibility and a stronger balance sheet”

** Jefferies analysts raise PT to 611 rupees from 536 rupees but maintain “underperform” rating

** Twenty four of 31 brokerages rate the stock “buy” or higher, four “hold” and the rest “sell” or lower; their median PT is 780 rupees ($1 = 64.2450 Indian rupees)

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