Tata Steel shares fall 3% post Q4 results. Should you buy, sell or hold?

from operations in the reporting quarter fell 7% year-on-year to Rs 58,687 crore.

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Jefferies stated that Tata Steel's results were weak but still better than the estimates. The standalone EBITDA/t fell 12% QoQ to Rs 15,000 which was pulled down lower by ASP and Europe EBITDA/t narrowed sharply from $191 in Q3 to $40 in Q4.

Jefferies has a '' call on with a target price of Rs 200.



The domestic brokerage firm stated that the revenue stood at Rs 36,600 crore (YoY/QoQ: -4%/+5%) against their estimate of Rs 35,900 crore, primarily driven by improved volumes, which was offset by muted realization while domestic steel production stood at 5.24mt (YoY/QoQ: +16%/ +2%) and sales at 5.42mt (YoY/QoQ: +13%/+11%), which were in line with the estimate.

Sales were driven by higher dispatches in domestic markets, increased dispatches in auto-grade and special-grade steel, higher volumes from the branded & retail segment, quoted Motilal Oswal.

Motilal Oswal has a 'neutral' rating on the stock, however, the target price will be given out after the conference call due later today.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)