Live Markets »News & Advice»Latest Stories»Latest Stories Details
Latest Stories Details
Back

Credit Suisse cuts Tata Steel to 'underperform'

Reuters/ 25 Jun 12 | 03:06 PM
Related to : Tata Steel Ltd
 Tata Steel Ltd
tradenow

BSE   27 Mar 15 | 12:00 AM

315.00  -0.75 (-0.24%)

NSE   27 Mar 15 | 12:00 AM

315.10  -0.5 (-0.16%)

Credit Suisse cut its steel prices estimates after bigger-than-expected falls, and adds it will impact EPS for companies in the sector by 5-25%.

Credit Suisse downgraded Tata Steel to "underperform" from "neutral" while maintaining its target price at Rs 340, saying valuations are no longer "supportive."

The investment bank also cuts its target price for Jindal Steel & Power to Rs 600 from Rs 534, citing higher costs at captive power plans and plans to scrap its iron ore and steel investment in Bolivia among its main reasons.

Shares in Tata Steel gain 0.66% to Rs 421.35, while Jindal Steel's NSE shares are up 0.82% to Rs 437.50.

Related Stories

    No Related Stories Found

Sensex

Company Price Gain (%)
Hindalco Inds.133.552.97
Infosys2,201.952.68
St Bk of India263.552.59
Larsen & Toubro1,676.852.50
ICICI Bank314.402.23

Poll

Will the Nifty reclaim 9,000 in case of robust Q4 earnings?


Online Portfolio

You can create Online Portfolio here using the below button.