ICICI Direct has given Hold recommendation for Tata Chemicals with a target price of Rs. 925 in its research report issued on Aug 07, 2021

ICICI Direct’s research report on Tata Chemicals

Commencing operation in 1944, Tata Chemicals has come a long way to become one of the top five players in the global soda ash market. Under basic chemical, TCL offers soda ash, soda bicarbonate, cement, salt, marine chemicals and crushed refined soda, while speciality chemical consists solution towards agro chemical through Rallis and other specialty solutions such as nutritional products and HDS Basic chemical forms 75% of overall revenue while the rest comes from speciality products


We retain HOLD rating on the back of better growth outlook of base business due to revival in the flat glass demand We value Tata Chemicals at SOTP valuation to arrive at a revised target price of Rs 925/share (earlier Rs 750/share).


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