Shares of India's steel giant Tata Steel jumped in trade on Friday morning, after the firm reported strong Q4 results. Tata Steel share price jumped by more than 6.8% to hit the day's high at Rs 545.50.\u00a0On a consolidated basis, Tata Steel reported overall volume growth of 28.5% to 7.52 million tonne, largely on account acquisition of Bhushan Steel. The net profit of the firm fell\u00a084% in the latest quarter owing to a on-time gain in the previous quarter. Notably,\u00a0Tata Steel\u2019s consolidated net profit figure for Q4 FY19 is not directly comparable to Q4 FY18 as it does not include NATSteel Holding and Tata Steel Thailand as they are classified as Asset Held For Sales. The net profit declined to Rs 2,295 crore, from Rs 14,688 crore a year earlier. Consolidated net profit for the entire fiscal declined 49% to Rs 9,098 crore. Also read:\u00a0PepsiCo wants to save Lay\u2019s potato, sues farmers for growing it; Twitterati, activists back farmers Taking stock of the latest results, global brokerage firm\u00a0CLSA has maintained sell rating on the stock with a target at Rs 395 per share. CLSA\u00a0expects margin to remain under pressure in FY20.\u00a0 The firm noted that while Q4 consolidated EBITDA came in higher by 1%, it missed estimates by 3%.\u00a0\u00a0The EBITDA has come in lower on account of lower steel prices and an adverse mix. According to the firm. the stock is trading at an expensive 6.3x 20 EV\/EBITDA ratio. Morgan Stanley noted that the standalone EBITDA miss is reflecting weaker realisation, while EBITDA miss is offset by the strong core performance in Europe. Interestingly, Tata Steel's gross debt reduced to Rs 1.08 lakh crore, down 14 per cent in the last six months alone. Tata Steel had cash and cash equivalent of Rs 5,937 crore at the end of March. Research and brokerage firm\u00a0JM Financial has maintained a 'buy' rating on the stock with a share price target of Rs 715. \u201cTata Steel remains our preferred play on the steel cycle, given the stabilising debt profile (repayments) and impending TSE-Thyssen JV,\u201d noted the report.