I’ve been following this company for the past few years waiting for Tata Group to somehow improve its operational efficiency and yet it hasn’t been a success because of its horibble investment in a mini blast furnance that has dragged on its earnings for the past 3 years. Should the company simply be able to offload it, take a one time loss, then I wouldn’t be too surprised to see a re-rating on the counter.
President and chief executive Peeyush Gupta said two separate options have been pursued in the last three months. The MBF complex, which also includes power and sinter plants, is potentially to be sold to partners who have access to raw materials such as those in India, Africa and the Middle East.
Note: Please do your own research, make up your minds, and see the disclaimer for the legal babble, thank you!
Source: Bangkok Post