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Hold Tata Metaliks; target of Rs 975: ICICI Direct

ICICI Direct recommended hold rating on Tata Metaliks with a target price of Rs 975 in its research report dated January 18, 2022.

January 20, 2022 / 04:14 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 H2FY23, 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.


We downgrade to stock from BUY to HOLD. We value TML at Rs 975 i.e. 6.5x FY23E EV/EBITDA.


For all recommendations report, click here

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first published: Jan 20, 2022 04:14 pm
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