Hot Pursuit     13-Jul-24
Fitch Ratings revises outlook on ratings of Tata Steel to 'negative'
Fitch Ratings has revised the outlook on Tata Steel’s (TSL) issuer default rating (IDR) to 'negative’, from 'stable’, and affirmed the IDR at 'BBB-'.

The credit rating agency stated that the ‘negative’ outlook reflects uncertainty surrounding turnaround of the UK operations and risks to our forecast that TSL's EBITDA leverage may improve to below 3.0x by the financial year ending March 2025 (FY25).

The change in the UK government and labour union's actions to save job losses at TSL's UK operations may delay its plan to reduce losses through FY25.

"We expect robust growth in Indian operations and likely EBITDA profits at Dutch operations in FY25, may offset any losses at UK operations,” Fitch Ratings said in a statement.

Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum.

The company’s consolidated net profit declined 64.59% to Rs 554.56 crore on 6.79% rise in revenue from operations to Rs 554.56 crore in Q4 FY24 over Q4 FY23.

The scrip shed 0.18% to end at Rs 168.70 on the BSE on Friday.

Previous News
  Tata Steel Ltd spurts 0.86%, rises for fifth straight session
 ( Hot Pursuit - 26-Jun-25   13:00 )
  BMW Industries group wins orders of Rs 364 cr from Tata Steel
 ( Corporate News - 21-May-25   09:18 )
  Tata Steel
 ( Results - Analysis 13-May-25   09:39 )
  Tata Steel Q4 PAT zooms 113% YoY to Rs 1,301 cr
 ( Hot Pursuit - 13-May-25   15:02 )
  Tata Steel schedules AGM
 ( Corporate News - 13-May-25   09:46 )
  Board of Tata Steel recommends final dividend
 ( Corporate News - 13-May-25   09:46 )
  Stock Alert: Tata Steel, Ather Energy, Raymond, Chalet Hotels, Krsnaa Diagnostics
 ( Market Commentary - Stock Alert 13-May-25   08:01 )
  Tata Steel consolidated net profit rises 112.73% in the March 2025 quarter
 ( Results - Announcements 13-May-25   07:37 )
  Tata Steel to hold board meeting
 ( Corporate News - 07-May-25   10:48 )
  Tata Steel Ltd spurts 1.78%, up for third straight session
 ( Hot Pursuit - 06-May-25   13:05 )
  Vedanta Ltd Spurts 3.79%, BSE Metal index Rises 2.67%
 ( Hot Pursuit - 11-Apr-25   09:30 )
Other Stories
  V2 Retail’s revenue climbs 51% YoY in Q1 FY26
  03-Jul-25   15:14
  Arkade Developers surges after acquiring Goregaon-based redevelopment project
  03-Jul-25   15:07
  VST Industries Ltd leads losers in 'A' group
  03-Jul-25   15:00
  CARE Ratings reaffirms ratings of India Shelter Finance at 'CARE AA-' with 'stable’' outlook
  03-Jul-25   14:56
  U. Y. Fincorp Ltd leads losers in 'B' group
  03-Jul-25   14:45
  Bajel Projects hits the roof after securing mega order from Power Grid Corporation
  03-Jul-25   14:41
  Volumes soar at DCM Shriram Ltd counter
  03-Jul-25   14:30
  REC Ltd down for fifth straight session
  03-Jul-25   13:35
  Persistent Systems appoints Shimona Chadha as CMO
  03-Jul-25   13:19
  Maruti Suzuki India Ltd gains for third straight session
  03-Jul-25   13:05
Back Top