External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Tata Steel reported strong result on a standalone basis. Europe, however, disappointed due to a surge in energy and coal costs.</li><li>Consolidated EBITDA was 66% higher on a YoY basis, but 3% lower sequentially</li><li>EBITDA rose 82% YoY to INR121.7b (10% ahead of our estimate), despite a 9% QoQ drop fueled by rising coking coal prices that was not fully offset by a marginal increase in ASP</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Tata Steel reported strong result on a standalone basis. Europe, however, disappointed due to a surge in energy and coal costs.Consolidated EBITDA was 66% higher on a YoY basis, but 3% lower sequentiallyEBITDA rose 82% YoY to INR121.7b (10% ahead of our estimate), despite a 9% QoQ drop fueled by rising coking coal prices that was not fully offset by a marginal increase in ASPContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Steel: Capex to Rise with Delayed Returns

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Tata Steel group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA)</li><li>Tata Steel (TSL) is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world</li><li>We maintain our BUY rating on the stock. We value TSL at Rs 1400, based on SoTP valuation</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Tata Steel group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA)Tata Steel (TSL) is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the worldWe maintain our BUY rating on the stock. We value TSL at Rs 1400, based on SoTP valuationContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), SMC Global

SMC Online

<p>Consolidated revenue from operations surged 109.51% to Rs 53,371.81 crore in Q1 FY22 as against Rs 25,474.52 crore in Q1 FY21. Pre-tax profit was at Rs 12,076.75 crore in Q1 FY22 as against a pre-tax loss of Rs 3,380.58 crore in Q1 FY21. The exceptional loss stood at Rs 182 crore during the quarter as compared to an exceptional gain of Rs (58) crore during the corresponding quarter, last year. On a consolidated basis, production grew 42.23% to 7.88 million tonnes in Q1 FY22 from 5.54 million tonnes in Q1 FY21.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Consolidated revenue from operations surged 109.51% to Rs 53,371.81 crore in Q1 FY22 as against Rs 25,474.52 crore in Q1 FY21. Pre-tax profit was at Rs 12,076.75 crore in Q1 FY22 as against a pre-tax loss of Rs 3,380.58 crore in Q1 FY21. The exceptional loss stood at Rs 182 crore during the quarter as compared to an exceptional gain of Rs (58) crore during the corresponding quarter, last year. On a consolidated basis, production grew 42.23% to 7.88 million tonnes in Q1 FY22 from 5.54 million tonnes in Q1 FY21.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Steel: Q1 PAT at Rs 9,913cr, Beats Estimates

<p>TATA has been a key beneficiary of rising steel prices. While margin in India has been strong in the last few quarters, Europe should see a sharp jump, with EBITDA/t expected to cross USD250/t by 3QFY22. The deleveraging cycle should continue, with consolidated net debt expected to fall by 32% YoY to INR565b (0.8x EBITDA) in FY22. Consolidated EBITDA rose 14% QoQ to INR161.1b (highest ever) in 1QFY22. PAT at INR90.9b was higher than FY21 levels (INR82.7b).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

TATA has been a key beneficiary of rising steel prices. While margin in India has been strong in the last few quarters, Europe should see a sharp jump, with EBITDA/t expected to cross USD250/t by 3QFY22. The deleveraging cycle should continue, with consolidated net debt expected to fall by 32% YoY to INR565b (0.8x EBITDA) in FY22. Consolidated EBITDA rose 14% QoQ to INR161.1b (highest ever) in 1QFY22. PAT at INR90.9b was higher than FY21 levels (INR82.7b).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Steel: Profitability in Europe to Improve

<p>About the stock: Tata Steel Group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA).</p><ul><li>Tata Steel (TSL) is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world</li><li>TSL has been a part of the DJSI emerging markets Index since 2012 and has been consistently ranked among top five steel companies in the DJSI Corporate Sustainability Assessment since 2016</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

About the stock: Tata Steel Group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA).Tata Steel (TSL) is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the worldTSL has been a part of the DJSI emerging markets Index since 2012 and has been consistently ranked among top five steel companies in the DJSI Corporate Sustainability Assessment since 2016Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Steel: Reports Highest Ever Quarterly Consolidated EBITDA

India

Tata Steel Limited is an Indian multinational steel company that manufactures and distributes a wide range of steel products, including hot-rolled, cold-rolled, and galvanized steel, tubes, and wire rods. The company serves diverse sectors such as automotive, construction, engineering, and consumer goods. Tata Steel is headquartered in Mumbai, India, and was founded on August 26, 1907.

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Tata Steel (TATA IN)

Tata Steel: Capex to Rise with Delayed Returns

Tata Steel reported strong result on a standalone basis. Europe, however, disappointed due to a surge in energy and coal costs. Consolidated EBITDA...

Motilal Oswal

Tata Steel: On Strong Footing

Tata Steel group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA).

ICICI Securities Limited

Tata Steel: Q1 PAT at Rs 9,913cr, Beats Estimates

Consolidated revenue from operations surged 109.51% to Rs 53,371.81 crore in Q1 FY22 as against Rs 25,474.52 crore in Q1 FY21. Pre-tax profit was...

SMC Online

Tata Steel: Profitability in Europe to Improve

TATA has been a key beneficiary of rising steel prices. While margin in India has been strong in the last few quarters, Europe should see a sharp...

Motilal Oswal

Tata Steel: Reports Highest Ever Quarterly Consolidated EBITDA

Tata Steel Group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA). Tata...

ICICI Securities Limited

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