ICICI Direct has given Hold recommendation for Tata Chemicals with a target price of Rs. 1035 in its research report issued on Feb 11, 2022
ICICI Direct’s research report on Tata Chemicals
Commencing operations 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, sodium bicarbonate, cement, salt, marine chemicals and crushed refined soda. Speciality chemical consists of 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 revise our rating from BUY to HOLD on the stock We value Tata Chemicals at SOTP valuation to arrive at a revised target price of Rs 1035/share, maintained from earlier.