A maturing market amid the mayhem
Tata Steel leads metals
Tata Steel shares jumped 8.2 percent on Wednesday, registering their biggest one-day rise in more than three months and their best close in a year. The surge helped the BSE Metal Index gain 4.2 percent.
The counter led the gainers on the BSE after Federal Reserve Chairman Ben Bernanke said the U.S. recession was probably over, boosting metals stocks across regions. Shanghai copper futures also rose but lagged the international market.
According to Thomson Reuters data, Tata Steel shares have gained 25 percent this month and over 140 percent since January.
Data shows the company, with a relatively high Beta of 1.76, balances it with good operating margin of 37.6 percent and has a price-to-book value ratio of 1.45.
Do you think the counter can reach new highs as the global economy shapes up again?