Tata Steel had a weak March qtr sales

摘要

Tata Steel Ltd reported a 14.6% fall in March quarter (Q4) sales, but this did not come as a surprise for investors. In fact, the company's shares have risen about 2% since it reported the sales data. With covid-19 stalling construction and manufacturing activity, investors have been bracing for the worst. In fact, the stock has nearly halved year till date. Low sales will weigh on Tata Steel's earnings in Q4, although it's not clear how big the hit will be. January-June is a seasonally strong period for the steel industry, when construction projects are in full swing ahead of the monsoon, and customers in the manufacturing sector plan their purchases for the calendar year.