BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Edelweiss upgrades Tata Steel to buy
Edelweiss has upgraded Tata Steel to 'buy' from 'reduce'. It expexts Tata Steel to to maintain domestic EBITDA/tonne of Rs 11,000-12,000 through to FY19 estimated earnings given supply constraints in China and weak outlook for international coking coal prices. It adds that in view of the stock trading at lower end of 10 year valuation range, it has upgraded the stock to 'BUY' from 'REDUCE' with a revised target price of Rs 637 per share.