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Company Update: Tata Steel

Over the past two quarters, Tata Steel has reported strong growth in volumes in the domestic operations despite weak demand. Also, its European operations have been broadly better than expectations over the past three quarters indicating some stability and predictability from its European operations. We maintain our positive stance on Tata Steel as its earnings growth is likely to be driven by a) higher sales volume in FY2014-15 on the back of 2.9mn tonne brownfield expansion project in Jamshedpur and b) steady improvement in profitability of European operations.Source: Angel Broking

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