Quotes with Resistance & Support
Market Information

Reduce Tata Chemicals, target of Rs 140: Emkay

Posted on: April 8th, 2009 and is filed under Brokerage Recommendations.

Emkay Global Financial Services has maintained its reduce rating on Tata Chemicals with a price target of Rs 140 in its April 8, 2009 research report. “Tata Chemicals (TCL) management shared cautious outlook on their soda ash business in near future in our recent meeting with company’s key management.
Management maintained their view of 10-15% drop in soda ash sales volumes due to recent economic slowdown. However future outlook on global soda ash prices remains wobbly since possibility of price cut by the Chinese players to gain volumes cannot be ruled out. We have factored 10% drop in sales volume and 8% decline in prices while any steep cut in global soda ash prices may lead to downgrade in our earnings estimates. Also considering the recent sharp rally of 50% in TCL’s stock price without any significant improvement in near term visibility in business, we maintain our price target of Rs 140 and maintain our reduce rating on the stock,” says Emkay Global Financial Services’ report.

Tags: , , , ,

Similar Posts:

Breakouts

+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

Hi CB, Bought IGL @310. Hold or sell? Target plz. Thanks in advance...view more »
- by Svsquare
Status: Awaiting reply

Market Stats

Search Our Archives

Latest Investment Idea

Recent Comments