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Hold Tata Metaliks; target of Rs 750: ICICI Direct

ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 750 in its research report dated October 19, 2022.

October 20, 2022 / 22:18 IST
     
     
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    ICICI Direct's research report on Tata Metaliks

    Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994. TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes. TML is currently in process of expanding its DI pipe capacity in two phases • TML has a healthy balance-sheet. It is one of the few players in the steel pipe sector having a net cash position on its balance sheet.

    Outlook

    We maintain our HOLD rating on the stock. We value TML at Rs 750 i.e. 5.5x FY24E EV/EBITDA.

    For all recommendations report, click here

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    Tata Metaliks - 201022 - icici

    Broker Research
    first published: Oct 20, 2022 10:18 pm

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