Tata Steel - Q1FY2014 Result Preview - Angel Broking

Tata Steel is expected to report its consolidated 1QFY2014 results today. We expect the company to post a net sales decline of 3.2% yoy to Rs. 32,728cr mainly on account of weak operational performance from European operations. EBITDA margin is expected to decline by 111bp yoy to 8.9%. The net profit is also expected to decrease by 18.5% yoy to Rs. 487cr. We maintain our Accumulate rating on the stock with a target price of Rs. 260.

Source : Equity Bulls

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