ICICI Direct has given Buy recommendation for Tata Steel with a target price of Rs. 1600 in its research report issued on May 05, 2022
ICICI Direct’s research report on Tata Steel
Tata Steel Group is among the top global steel companies with an annual steel production capacity of ~34 million tonnes per annum (MTPA). Tata Steel (TSL) is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world • TSL has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked among top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
We maintain our BUY rating on the stock. We value TSL at Rs 1600, based on SoTP valuation.