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Buy Tata Steel; target of Rs 1600: ICICI Direct

ICICI Direct is bullish on Tata Steel has recommended buy rating on the stock with a target price of Rs 1600 in its research report dated May 05, 2022.

May 05, 2022 / 09:45 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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ICICI Direct's research report on Tata Steel


Tata Steel Group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA). Tata Steel (TSL) is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world • TSL has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked among top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.


Outlook


We maintain our BUY rating on the stock. We value TSL at Rs 1600, based on SoTP valuation.


For all recommendations report, click here

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first published: May 5, 2022 09:45 pm
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