MOSL: Morning India (10/October/17)-1. Tata Steel- 2. InterGlobe Aviation (ART)- 3. Financials – MCLR- 4. Zee Entertainment- 5. Oil & Gas (Preview 2QFY18)- 6. Auto (Preview 2QFY18)
​MOrning India (10/October/17): 1. Tata Steel; 2. InterGlobe Aviation (ART); 3. Financials – MCLR; 4. Zee Entertainment; 5. Oil & Gas (Preview 2QFY18); 6. Auto (Preview 2QFY18); 7. Metals Weekly
Today’s top research idea
Tata Steel: Site visit to Jamshedpur and Kalinganagar; A benchmark in operational excellence, sustainability and CSR
- We visited Tata Steel’s (TATA) highly profitable 10mtpa plant at Jamshedpur (JSR), recently commissioned new greenfield 3mtpa plant at Kalinganagar (KPO) and also met top management.
- JSR is a benchmark in operational excellence, sustainability and corporate social responsibility. It has a rich product mix and has continuously worked toward branding of its products and retailing, which has helped in de-commoditizing nearly 50% of revenue. JSR will increase production by 1mtpa over three years through asset sweating and debottlenecking.
- KPO is likely to announce 3-5mtpa expansion in CY17. TATA is also evaluating inorganic growth to double its capacity in India to 26mtpa in five years. KPO will be a key growth driver as new projects are attractive. Maintain Neutral.
Piping hot news
September commercial vehicles' sales rise fastest in 6 years, hint at economy rebound
- India’s commercial vehicles sales in September rose at the fastest pace in nearly six years, suggesting a recovery in the economy.
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