Brokerages turn bullish on Tata Steel, raise target price

CLSA said leverage concern for Tata Steel is now a thing of the past. “We see structural strength in Tata’s balance sheet. Even in a stressed case scenario where we assume FY22/23 Ebitda (earnings before interest, taxes, depreciation and amortisation) to be sharply lower, we expect debt to decline and net debt to Ebitda to be lower than 3 times,” said CLSA.

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