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Buy Tata Chemicals, target Rs 330: Fairwealth Sec

Posted on: July 1st, 2009 and is filed under Brokerage Recommendations.

Fairwealth Securities has recommended a buy rating on Tata Chemicals, with price target of Rs 330, in its report dated June 12, 2009.

“The company has plans to invest Rs 250 crores in Capex this year. Of this, Rs 50 crore would go into setting up a customised fertiliser plant in the Barbala plant in Uttar Pradesh in 2010. Rest of it would be utilized general maintenance work While margins might get impacted for overseas Operations (Soda Ash Busines), Indian Operations are expected to run smoothly for the company. We give company a buy on strong Balance Sheet and revenue visibility in the long term. We give stock a buy with a target price of 330 over a period 6 months to 1 year,” says Fairwealth Securities’ report.

source: Moneycontrol

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