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.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
