Buy Tata Chemicals; target of Rs 1370: ICICI Direct

ICICI Direct is bullish on Tata Chemicals has recommended buy rating on the stock with a target price of Rs 1370 in its research report dated August 12, 2022.

Broker Research

August 14, 2022 / 11:16 IST

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E. Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

26 Aug, 2025 12:21

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ICICI Direct's research report on Tata Chemicals

Commencing operations in 1944, Tata Chemicals has come a long way to become one of the top five players in the global soda ash market. Under basic chemical, TCL offers soda ash, sodium bicarbonate, cement, salt, marine chemicals and crushed refined soda. Speciality chemical consists of solution towards agro chemical through Rallis and other specialty solutions such as nutritional products and HDS • Basic chemical forms 75% of overall revenue while the rest comes from speciality products.

Outlook

We revise our rating from HOLD to BUY on the stock due to better soda ash pricing environment. We value Tata Chemicals at SOTP valuation to arrive at a revised target price of Rs 1370/share (earlier Rs 1155/share).

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