Tata Chemicals is a global chemicals company serving the needs of industry, consumers and the agricultural sector. The Company manufactures inorganic chemicals, consumer products, crop protection and agriculture inputs, and nutritional solutions. AT the end of FY19, debt-equity ratio came down to 0.5x from 1.3x in FY14. Currently, the stock trades at 15.5x of its earnings and delivers 11% RoE. The company also pays dividend of ~30% on an average. With concrete business and attractive returns, we recommend BUY on the stock.

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