Brokerage firm Nomura has initiated coverage on Tata Group's Tata Steel Ltd ., with a 'Buy' recommendation. The initiation comes with a price target of ₹215 on the stock, which implies a potential upside of 25% from Monday's closing price.

Nomura's initiation is based on five key factors, including the company's strong domestic focus amid robust demand dynamics, improved utilisation at the Kalinganagar plant, a turnaround in European operations, a partial benefit from lower iron ore costs likely to persist beyond FY30F, and overall valuation comfort.

The foreign brokerage expects Tata Steel to strengthen its leadership in India over the next few years, driven by capacity expansion, efficiency gains, and sustainability initiatives.

It projects higher asset utilisation (up to 96% by FY2

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