Tata Steel Q1 profit tanks 92% YoY to Rs 634 crore, revenue drops 6%.
The company's European operations were hit by weak demand and higher costs, while India's Ebitda per tonne declined 19% QoQ to Rs 13,599 per tonne (down 36% YoY).
Tata Steel Company Overview
Tata Steel was founded in 1907 in India. It is a part of the Tata Group, one of the largest conglomerates in India. The company has a strong focus on sustainability, and is committed to reducing its environmental impact.
In 2022, Tata Steel's consolidated turnover was US$32.83 billion. The company employs over 65,000 people worldwide.
Here are some of the key facts about Tata Steel:
Founded in 1907
Headquarters in Mumbai, India.
Annual crude steel capacity of 34 million tonnes.
Products used in construction, automotive, and manufacturing industries
Part of the Tata Group
Strong focus on sustainability
Consolidated turnover of US$32.83 billion in 2022
Employs over 65,000 people worldwide
Current Share Holding Pattern of the company
Tata Steel FII Holding
Tata Steel DII Holding
Tata Steel Pros.
Tata Steel Monthly Chart
Strong fibonacci Resistance can be seen at Rs 120, once the stock price closes above Rs 120 the stock price can go higher till Rs 150 Levels.
Tata Steel Daily Chart
Sysmetric Triangle breakout in Tata Steel
Tata Steel Daily Chart with RSI.
Positive divergense can be seen clearly in RSI
Conclusion and Trading Strategy :-
Although Tata Steel Q1 profit tanks 92% YOY the stock is trading at a good technical breakout to a Sysmetric Triangle and can go till Rs 140 -150 levels.
Follow me on Instagram and Twitter🚀Stay connected with the latest happenings, insightful blog posts. Join the community now and be a part of the conversation!
Instagram: Fearless_Trader_
Twitter: @PrathameshTawde
Comments