The brokerage believes that investor concerns over the potential loss of iron ore mines post-FY30 are unwarranted and overstate (Image Source: Tata Steel) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Nomura has initiated coverage on Tata Steel Ltd. with a ‘Buy’ rating and a target price of Rs 215, implying an upside potential of 25%. The brokerage sees strong growth in India, turnaround in Europe and improving macros.

“We initiate coverage of Tata Steel with a Buy rating on account of domestic focus amid strong demand dynamics, improved utilisation from Kalinaganar, a turnaround of European operations, a partial benefit of lower iron ore cost likely to persist after FY30F and valuation comfort.”

Nomura derived a target price of Rs 215 for Tata Steel by applying a slig

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