ICICI Securities Reaffirms Buy Rating on Tata Steel with Rs 180 Target

ICICI Securities has reiterated its Buy recommendation for Tata Steel, maintaining a target price of Rs 180. This decision reflects the brokerage’s confidence in the company’s strategic initiatives and long-term growth potential, despite challenges in the global metals market.  

 

Tata Steel’s management has been focusing on cost reduction and value enhancement as part of its strategic objectives for 2030. The company’s green steel transition plan, which includes replacing one of its blast furnaces with a Direct Reduced Iron (DRI) and Electric Arc Furnace (EAF) by 2030, is a key highlight of its sustainability efforts.  

 

While Tata Steel reported a slight dip in consolidated total income for the quarter ending December 2024, ICICI Securities remains optimistic about the company’s ability to navigate inflationary pressures and low spreads in Europe. The brokerage also highlighted Tata Steel’s ongoing consultations with the Dutch government and stakeholders to advance its green steel initiatives.  

 

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Sources: Economic Times, Moneycontrol, TopNews.