Demand recovery at home and abroad, price uptick may prop Tata Steel stock

Although Tata Steel's Q2 results, adjusted to reflect the merger with Bhushan Steel (BSL), cheered most analysts, the stock fell 1 percent on Friday. Domestic sales and operating profit were below expectations, while Europe outperformed. There are several global factors to consider.

Steel prices remained tied in Asia and increased in Europe. However, costs rose everywhere due to higher fuel costs (mainly coking coal) and iron ore. Europe is expected to continue to register strong demand in the second half of fiscal year 2021-22 (FY22), but fuel prices could escalate.

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