ICICI Direct has given Hold recommendation for Tata Metaliks with a target price of Rs. 900 in its research report issued on Apr 27, 2022

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.


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

Leave a Reply

Your email address will not be published.