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Hold Tata Metaliks; target of Rs 900: ICICI Direct

ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 900 in its research report dated April 27, 2022.

April 29, 2022 / 01:43 PM IST
 
 
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ICICI Direct's research report on Tata Metaliks


Tata Metaliks (TML) is a subsidiary of Tata Steel, which was established in 1990. TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes. By Q4FY23, TML would double its DI pipe capacity to 4 lakh tonnes • TML has healthy cash flows and a strong balance-sheet. It is one of the few players in the steel pipe sector having net cash position on its balance sheet.


Outlook


We maintain our HOLD rating on the stock. We value TML at Rs 900 i.e. 6x FY24E EV/EBITDA.


For all recommendations report, click here

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first published: Apr 29, 2022 01:41 pm
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