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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Tata Steel Limited    TATASTEEL   INE081A01012

TATA STEEL LIMITED

(TATASTEEL)
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End-of-day quote. End-of-day quote NATIONAL STOCK EXCHANGE OF INDIA - 10/16
347.4 INR   -0.52%
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EU Blocks Merger of Steelmaking Units of Tata, Thyssenkrupp

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06/11/2019 | 07:22am EDT

By Valentina Pop

BRUSSELS -- The European Union's antitrust enforcer on Tuesday blocked the planned merger of two steelmaking businesses, India's Tata Steel Ltd. and Germany's Thyssenkrupp AG, saying the resulting company would have reduced competition in the supply of special steel for the car and packaging industries.

Competition commissioner Margrethe Vestager said the two companies failed to propose sufficient remedies to address the EU's concerns. "We prohibited the merger to avoid serious harm to European industrial customers and consumers," Ms. Vestager said. The planned merger, announced in 2017, would have created Europe's second-largest steel producer after ArcelorMittal SA.

The blocked merger marks another defeat for executives and politicians who have been pushing for the formation of more European giants to counter competition from the U.S. and China.

In February, the European Commission, the antitrust body, stopped plans to merge the train-making operations of Germany's Siemens AG with France's Alstom SA, a deal the companies said was necessary to be able to competition in the future with Chinese rail giant CRRC Corp., the world's largest rail supplier. The European Commission said the Franco-German merger would have harmed competition in the markets for high-speed trains and signaling systems.

The expected negative decision by the commission to create a second European steel giant was one of the main reasons that forced Thyssenkrupp to abandon a plan to split itself into two companies. Instead, the German company said it would pursue an initial public offering of its elevators business and be open for partnerships of its industrial operations.

Ruth Bender in Berlin contributed to this article.

Write to Valentina Pop at valentina.pop@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM 1.96% 38.53 Real-time Quote.7.14%
ARCELORMITTAL -0.73% 13.088 End-of-day quote.-27.48%
ARCELORMITTAL -0.83% 13.084 Delayed Quote.-27.27%
ONE STOP SYSTEMS, INC. -1.32% 2.61 Delayed Quote.36.34%
TATA STEEL LIMITED -0.52% 347.4 End-of-day quote.-32.98%
THYSSENKRUPP AG 4.64% 13.19 Delayed Quote.-15.85%
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Latest news on TATA STEEL LIMITED
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Financials (INR)
Sales 2020 1 583 B
EBIT 2020 145 B
Net income 2020 52 989 M
Debt 2020 987 B
Yield 2020 3,00%
P/E ratio 2020 8,58x
P/E ratio 2021 5,68x
EV / Sales2020 0,87x
EV / Sales2021 0,85x
Capitalization 398 B
Chart TATA STEEL LIMITED
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Technical analysis trends TATA STEEL LIMITED
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 443,95  INR
Last Close Price 347,40  INR
Spread / Highest target 94,3%
Spread / Average Target 27,8%
Spread / Lowest Target -20,8%
EPS Revisions
Managers
NameTitle
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
Natarajan Chandrasekaran Chairman
Koushik Chatterjee Chief Financial Officer & Executive Director
Ashok Kumar Chief Technology Officer-Process
Vinay V. Mahashabde Chief Technical Officer-Flat Products
Sector and Competitors
1st jan.Capitalization (M$)
TATA STEEL LIMITED-32.98%5 596
NUCOR1.93%16 010
POSCO--.--%15 320
ARCELORMITTAL-27.27%14 736
NIPPON STEEL CORPORATION-17.89%12 873
THYSSENKRUPP AG-15.85%8 660