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SBI Securities - Tata Technologies IPO Note
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    SBI Securities - Tata Technologies IPO Note

    22 November 2023

    Valuation: At the upper price band of Rs 500, Tata Technologies is trading at 32.5x FY23 P/E multiple. Its peers are trading at a relatively expensive valuation with FY23 P/E multiple of 108.9x for KPIT, 68.5x for Tata Elxsi, and 40.1x for LTTS. We believe Tata Technologies is well placed to encash the growth opportunities in the ER&D space and looking at the relatively cheaper valuations, we recommend investors to SUBSCRIBE to the issue.

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