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Tisco: Shaping up - Views on News from Equitymaster
 
 
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  • Jun 29, 1999

    Tisco: Shaping up

    The Tata Iron and Steel Company (Tisco) will be selling off its infotech division. This follows various steps taken by the company to refocus itself on its primary business - steel.

    Tisco (FY99 Net Sales Rs 62.7 bn), part of the Tata Group, is India's largest integrated private sector steel producer.

    After having diversified into unrelated businesses over the years, Tisco is taking steps to again focus on steel. After having sold its power plant, cement division, oxygen and industrial gas division and its stake in Tata Timken, the company is now disposing its infotech division. It is rumored that IBM and Tata Infotech, a Tata Group company, are currently carrying out due diligence separately.

    These divestitures and sell-offs have been very beneficial to the company. While they have generated the much-needed cash flows, the reduction in the number of businesses has helped the management concentrate its efforts on the steel business.

    Market View:
    Analysts have rated the stock as a 'BUY' mainly on account of there being a turnaround in the steel industry cycle and the management's efforts to refocus on the company's main business of steel.

     

     

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