homeearnings NewsICICI Sec optimistic on SAIL's second quarter show, Tata Steel's long term growth story
ICICI Sec optimistic on SAIL's second quarter show, Tata Steel's long-term growth story
Speaking in an interview with CNBC-TV18, Amit Dixit, Analyst at ICICI Securities said, “SAIL is expected to perform better in terms of realisation in this quarter and add to it the fact that they are most dependent on external coking coal. So, any decline in coking coal would affect them favourably.”
SAIL is expected to perform better in terms of realisation in the second quarter, said Amit Dixit, Analyst at ICICI Securities, They are most dependent on external coking coal. So, any decline in coking coal would affect them favourably, Dixit noted.
Regarding Tata Steel, Dixit said that the advantages will materialise once the UK operations are optimised, in line with their plans for restructuring the UK operations. "This is a narrative that requires a longer-term perspective for a complete understanding," he said.
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At the beginning of this month, Fitch Ratings raised Tata Steel Ltd.'s (TSL) long-term issuer default rating to investment grade with a stable outlook. This decision was made due to reduced uncertainty and financial risk stemming from the company's UK operations.
According to a recent analysis by CNBC-TV18, it is anticipated that steel companies will report strong outcomes, driven by three key factors: lower costs for raw materials, sustained demand during the traditionally sluggish monsoon quarter, and the favourable comparison to a lower base, particularly in the second quarter of FY23.
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(Edited by : Shweta Mungre)
First Published: Oct 18, 2023 5:29 PM IST
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