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The stock of foundry-grade pig iron producer Tata Metaliks ruled firm in an otherwise volatile market. While brokers said that sentiment at the counter was largely due to a `buy' report by a leading broking house, analysts maintained that it is a value pick.

They are of the view that the company's earnings growth would be driven by volume growth and improved pig iron prices on the back of strong demand fundamentals.

The company is reportedly poised for major growth in the production of pig iron, post acquisition of pig iron facilities at Usha Ispat in Redi, Maharashtra and give a volume CAGR of 40.5 per cent for 2006-08 earnings. The stock ended the day at Rs 191.35, up 1.81 per cent, on the BSE.

Deeptha Rajkumar

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