MoneyWorks4Me

India Ratings maintains negative outlook on Tata Steel

09 Oct 2013 Evaluate

Credit rating agency, India Ratings and Research has maintained negative outlook on Tata Steel as its profitability would remain under pressure in the near-term. The negative outlook reflects the company’s higher-than-expected net financial leverage in FY13 together with uncertainty regarding deleveraging in the near-term with slower volume growth in Europe and lower growth trajectory in the Indian markets.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.

Peers
Company Name CMP
JSW Steel 1187.00
Tata Steel 167.25
Steel Authority 165.00
Jindal Stainless 688.40
APL Apollo Tubes 2021.00
View more..