Tata Steel Ltd’s June-quarter performance showed the salutary effects of firm steel prices, with the highlight being the record per-tonne profitability. Tata Steel BSL reported a 21% rise in Ebitda and 29% sequential increase in net profit. That said, Tata Steel Long Products Ltd’s performance was dented due to tepid construction activity, a key user industry. Aggressive carbon provisioning and an increase in costs marred Tata Steel Europe’s (TSE) show, according to analysts. Shares of Tata Steel have had a stellar run, gaining more than 70% over the past five months.

Source: Mint August 15, 2021 19:41 UTC