ICICI Direct has given Hold recommendation for Tata Metaliks with a target price of Rs. 750 in its research report issued on Oct 19, 2022

ICICI Direct’s research report on Tata Metaliks

Tata Metaliks (TML) is a subsidiary of Tata Steel, which started its commercial production in 1994. TML has manufacturing facilities in Kharagpur, West Bengal, which produces pig iron and ductile iron (DI) pipes. TML is currently in process of expanding its DI pipe capacity in two phases • TML has a healthy balance-sheet. It is one of the few players in the steel pipe sector having a net cash position on its balance sheet.


We maintain our HOLD rating on the stock. We value TML at Rs 750 i.e. 5.5x FY24E EV/EBITDA.

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