Motilal Oswal: Buy TATA Steel, Target INR210 on TPPL Acquisition

• TATA Steel to acquire a 50.01% stake in Thriveni Pellets (TPPL) from Thriveni Earthmovers for INR6.36 billion.
• The acquisition grants TATA Steel access to a 4mtpa pellet plant and a 212km slurry pipeline in Jajpur, Odisha.
• This strategic move aims to secure long-term pellet supply for TATA Steel's India operations and support backward integration.
• Motilal Oswal maintains a "BUY" rating on TATA Steel with a target price of INR210.

Why It Matters: TATA Steel secures vital raw material supply, strengthening its long-term operations.