Why is the market responding positively to a USD 600 million issue from Tata Steel?
Earlier the talk was that company would end up raising around 4,500 to 5,000 crore as against which the company is now raising only 3,000 crore. So that conveys two-three things; one, the domestic market operation is definitely going to contribute significantly to the cash flow position of the company and the second thing is that the Corus operation itself should be generating better amount of capacity utilisation going forward in this particular calendar year. So from that point of view its encouraging news if the company has factored these two aspects into account. The particular move looks very convincing. If we are probably going to come out of the problem particularly in the steel space all the more important is some of the companies like Tata Steel would start giving some amount of stability to share prices as well. Valuation wise the stock probably has a capacity to go up further if the Corus factor is giving a positive signal going forward. Q: One word on some of the infrastruc
