Buy Tata Sponge Iron, target Rs 1,050: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Tata Sponge Iron with a target price of Rs 1,050.

The current market price of Tata Sponge Iron is Rs 969.80.

Time period given by the analyst is intraday when Tata Sponge Iron price can reach defined target.

Kunal Bothra recommended to keep a stop loss at Rs 940.

Tata Sponge Iron, incorporated in the year 1982, is a Small Cap company (having a market cap of Rs 1,476.71 Crore) operating in Iron and Steel sector.

Tata Sponge Iron key Products/Revenue Segments include Sponge Iron which contributed Rs 563.44 Crore to Sales Value (91.59 per cent of Total Sales), Power which contributed Rs 50.03 Crore to Sales Value (8.13 per cent of Total Sales) and Other Operating Revenue which contributed Rs 1.69 Crore to Sales Value (0.27 per cent of Total Sales)for the year ending 31-Mar-2017.

The company’s top management includes Dr.O N Mohanty, Mr.A M Misra, Mr.D K Banerjee, Mr.Krishnava S Dutt, Mr.Manoj Thomas, Mr.P C Parakh, Mr.R Ranganath, Mr.Sanjay Kumar Pattnaik, Mrs.Meena Lall.

Company has Price Waterhouse & Co LLP as its auditors.

As on 30-09-2017, the company has a total of 15,400,000 shares outstanding.