Asit C Mehta Investment's buy rating on Tata Chemicals
Asit C Mehta Investment Intermediaries has maintained its buy rating on Tata Chemicals, while downgrading its price target to Rs 350 from Rs 444 earlier.
By ET Bureau |
Tata Chemicals
cmp: Rs 271.95
target price: 350
Asit C Mehta Investment Intermediaries has maintained its buy rating on Tata Chemicals, while downgrading its price target to Rs 350 from Rs 444 earlier. It said in a client note:
���In our earlier report, we have estimated EPS of Rs 34.4 in FY09, which has been revised to Rs 30.37 and introduce FY10E EPS of Rs 38.87. With acquisition of GCIP, TCL���s margins are expected to increase, however, due to increase in raw material prices and increase in the interest burden would moderate the PAT growth.���
cmp: Rs 271.95
target price: 350
Asit C Mehta Investment Intermediaries has maintained its buy rating on Tata Chemicals, while downgrading its price target to Rs 350 from Rs 444 earlier. It said in a client note:
���In our earlier report, we have estimated EPS of Rs 34.4 in FY09, which has been revised to Rs 30.37 and introduce FY10E EPS of Rs 38.87. With acquisition of GCIP, TCL���s margins are expected to increase, however, due to increase in raw material prices and increase in the interest burden would moderate the PAT growth.���
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