Equities. Commodities. Metals & Mining

Rahul Jain

More than 20 years experience in covering in Indian metals and mining sector as a sell side analyst. Focus on global commodity trends and actionable ideas. Have deep sectoral understanding and corporate connects. Have had several mine, plant visits and have engaged with 100s of buyside fund managers and analysts across the globe.

Equity Bottom-Up

<ul>
<li>Tata Steel’s India business is poised for multi-year volume expansion, backed by ample land availability across three key locations. </li>
<li>Losses from UK and Netherland operations set to ease. UK operations are under transitioning phase from BF to EAF. Discussions are on with the Netherlands govt. </li>
<li>Valuations: Tata Steel trades at 6.5x EV/EBITDA based on estimated FY26 EBITDA. Stock has outperformed local indices and could likely continue. </li>
</ul>


Tata Steel’s India business is poised for multi-year volume expansion, backed by ample land availability across three key locations. 
Losses from UK and Netherland operations set to ease. UK operations are under transitioning phase from BF to EAF. Discussions are on with the Netherlands govt. 
Valuations: Tata Steel trades at 6.5x EV/EBITDA based on estimated FY26 EBITDA. Stock has outperformed local indices and could likely continue. 


Tata Steel (TATA IN): Scaling Up Domestic Operations, Easing EU Drag

Tata Steel Ltd

Tata Steel (TATA IN): Scaling Up Domestic Operations, Easing EU Drag