BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Our channel checks and interactions with Tata Chemicals Ltd.'s management suggest potential headwinds in terms of cost pressures in H2 FY23 and downside in demand in the event of a global economic slowdown/recession hurting traditional soda ash markets for glass in auto, construction and container glass.
This and the stock’s 28.61% rally year-to-date do pose some risk to the tactical momentum in the stock and hence we suggest entry on declines.
The stock looks reasonably d at 12.9 times price-to-earnings on Sep-24E - at par with the long-term median reading on 12-month rolling PE of 12.9 times (post-consumer sale) versus earnings per share compound annual growth rate of 26.4% over FY22-FY25E.
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