Tata Steel's weak performance for June quarter (Q1), announced on Thursday evening, failed to deter Street's confidence, as the outlook is improving post lockdown. The stock was up 1.3 per cent on Friday, on a day when Sensex was down 1.1 per cent.
Though the lockdown impacted domestic steel volumes and realisations, and Tata Steel's Europe business saw much deeper impact leading to an operating loss, the Street remains confident of a rebound in India operations, thereby supporting overall growth. Improving capacity utilisations, rising domestic and international steel ...
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