Tata Steel shocks the Street with quarterly loss; what should investors do?
Tata Steel share price: The Tata group steel giants stock will be in focus on Tuesday, a day after the company reported a set of financial results that fell short of analysts estimates.
Tata Steel shares suffered losses on Tuesday, a day after the Tata group steel giant reported a net loss of Rs 2,224 crore for the quarter ended December 2022 amid a fall in realisations across geographies. The quarterly net loss came in stark contrast to analysts' expectation of profit.
The Tata Steel stock fell by Rs 6.9 or 5.8 per cent to Rs 110.8 on BSE in intraday trade.
Zee Business research, the company's quarterly net profit was estimated at Rs 1,012 crore, revenue at Rs 52,966 crore and margin at 10 per cent.
What brokerages recommend on Tata Steel after steelmaker's Q3 results
| Brokerage | Rating | Target price |
| CLSA | Buy | Rs 135 |
| Morgan Stanley | Equal-weight | Rs 110 |
| Jefferies | Buy | Rs 150 |
| Macquarie | Outperform | Rs 120 |
According to CLSA, Tata Steel's consolidated EBITDA was largely in line with the brokerage's estimate but adjusted EBITDA as well as adjusted standalone EBITDA per tonne were much lower.
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