Tata Metaliks: Preferred stock to play the water infrastructure theme
Investors tracking Tata Metaliks should watch out for government orders for ductile iron pipes
July 19, 2021 / 04:19 PM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Tata Metaliks (TML; CMP: Rs 1,244; Market capitalisation: Rs 3,927 crore) posted improved results for the June 2021 quarter helped by higher volumes in PI pipes and better price realisation. The company, which has manufacturing facilities at Kharagpur in West Bengal, makes pig iron (PI) and ductile iron (DI) pipes. TML plans to double its DI pipe capacity from 2 lakh tonnes to 4 lakh tonnes in phases.
June 2021 quarter results
TML achieved the highest-ever quarterly volumes in PI on...