TATASTEEL stock quotes on 1ka10.com

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Koushik Chatterjee, Group CFO of Tata Steel said that external capital will be tough to raise. They have syndicated their entire Corus acquisition debt, he said. The company does not have any immediate fund requirements or any balance sheet issues, he said. Cost of capital is higher as the premium on risk is much higher, he said. Overall leverage will not allow companies to take on too much external capital, Chatterjee said. Steel growth will be tad lower than the 6.5% forecasted, he added. Even at lower demand, steel would have supply constraints, he said. Chatterjee feels that spot steel prices have softened a bit. Raw material metal spread is still at comfortable levels, he said. The company is targeting combined return on capital of 30% in five years.The precious metals have bounced back drastically. So gold and silver had 11-15% rallies but base metals generally have been grinding down globally over the last couple of months. .NS

Tata Steel has announced its its first quarter results. The company's Q1 standalone net profit was up 21.78% at Rs 1488.40 versus Rs 1222.11 crore,. Its operating profit was at Rs 3024.6 crore versus Rs 1699.2 crore. Its OPM were at 49% versus 40.5%. Its net sales were up 46.87% at Rs 6165.03 crore versus Rs 4197.58 crore,

Keep buying on Tata Steel with a target price of Rs 875. "For 1QFY2009, Tata Steel posted a yoy Topline growth of 39.6% to Rs 43,508 cr (Rs 31,162 cr). This was mainly on account of the delivery growth of 11.5% and strong steel prices in the European markets. The domestic steel players have been struggling to maintain their Margins, due to intervention by the government to control prices. Tata Steel has, however, been an exception on account of being the most efficient player and being the most integrated player in both iron ore and coking coal compared to its peers. However, correction in the global steel prices remains as a major risk for Corus?s profitability."