Buy Tata Steel; target of Rs 550: ICICI Direct

ICICI Direct is bullish on Tata Steel has recommended buy rating on the stock with a target price of Rs 550 in its research report dated May 18, 2017.

May 22, 2017 / 15:29 IST

26 Aug, 2025 12:21

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ICICI Direct's research report on Tata Steel

Tata Steel reported a healthy set of Q4FY17 numbers driven by significantly higher EBITDA/tonne from both Indian as well as European operations. The phased manner process of de-risking the British steel pension scheme augurs well for the company.

Outlook

We value the domestic operations at 6.5x FY19E EV/EBITDA and overseas operations at 5x FY19E EV/EBITDA. We have arrived at a target price of Rs 550 with a BUY recommendation on the stock.

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first published: May 22, 2017 03:29 pm

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