Are Tata Steel’s Europe operations close to a turnaround?

News Snapshot:

Mumbai: The bleeding UK unit of Tata Steel Ltd will start generating operating profit from the latter half of this financial year, managing director T.V. Narendran said, once its blast furnaces are shut and the unit begins processing crude steel imported from India and the Netherlands. The company’s Dutch unit, also in the red in the March quarter, will turn an operating profit in the current quarter as full-scale production has resumed after lengthy maintenance work, Narendran said in an interview. The two European units turning profitable will aid Tata Steel’s consolidated financials, after their losses dragged the company’s margins...