Buy Tata Steel BSL, target price Rs 110: Yes Securities

Yes Securities has buy call on Tata Steel BSL with a target price of Rs 110. The current market price of Tata Steel BSL Ltd. is Rs 99.25. Time period given by analyst is Intra Day when Tata Steel BSL Ltd. price can reach defined target.
Tata Steel BSL Ltd., incorporated in the year 1983, is a Mid Cap company (having a market cap of Rs 10885.19 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 7884.46 Crore, up 7.29 % from last quarter Total Income of Rs 7348.66 Crore and up 190.92 % from last year same quarter Total Income of Rs 2710.17 Crore. Company reported net profit after tax of Rs 2478.00 Crore in latest quarter.

Investment Rationale
Post multi-month consolidation, the stock is bouncing off its support zone and has managed to sustain above the 50-day average. Appearance of multiple bullish candles indicate that the stock could revisit levels of Rs 110.