Tata Steel downgraded by Citi, Jefferies retains Dabur at ‘Hold’

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The downgrade also comes amid uncertainty over Tata Steel’s restructuring plans. While the specifics of these plans were not detailed in the report, the mention indicates a level of concern about the company’s strategic direction and its ability to navigate current market conditions.

On the other hand, Dabur India continues to receive a positive outlook from analysts. Jefferies has maintained a ‘Hold’ rating on the company with a price target of ₹600. The firm praised Dabur’s Q2 performance, which was driven by margin expansion and higher ad-spends. Dabur’s management also expressed optimism for future growth.

However, CLSA gave Dabur an outperform rating but cut the target price slightly to ₹609 from ₹640. The firm anticipates a reversal of the festive sales impact in Q3 and emphasizes the importance of the winter season for H2 revival. CLSA reiterated Dabur’s EBITDA margin guidance of 19.5%, showing confidence in the company’s financial performance despite the minor adjustment to its price target.

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