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TATA STEELTata Steel Double Top Pattern the Amazing Moment. if Tata Steel break out this level and market stand in 1260 upside then we will be got 1300+ level few months Tata Steel is poised for the next phase of growth even as it continues to stay the course on deleveraging. Over the next five years, the average India capital expenditure is estimated at Rs 10,000-12,000 Crore per annum and that excludes potential acquisitions. As against a $1 billion annual debt reduction target, the company is likely to reduce gross debt by over $2 billion in FY22. Koushik Chatterjee, executive director and chief financial officer, Tata Steel, told investors on Tuesday that the company would continue to deleverage and make its balance sheet stronger in order to position for the next phase of growth. “This year, I can certainly say that it will be much more than our announced policy of $1 billion,” he said during the investor meet. The investor presentation mentioned that among FY22 deleveraging priorities, over $2 billion gross debt reduction and Prioritising offshore debt pre-payments. In the June quarter also, the company had made material repayments in the Singapore and European balance-sheets, said Chatterjee.
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by SATYAM5256