Buy Tata Steel, target price Rs 1220: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Tata Steel with a target price of Rs 1220.0. The current market price of Tata Steel is Rs 1165.

Time period given by analyst is Intra Day when Tata Steel Ltd. price can reach defined target.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 140310.90 Crore) operating in Metals - Ferrous sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 50249.58 Crore, up 26.23 % from last quarter Total Income of Rs 39809.05 Crore and up 43.22 % from last year same quarter Total Income of Rs 35085.86 Crore. Company reported net profit after tax of Rs 7011.50 Crore in latest quarter.

Investment Rationale
Price volume breakout on the daily frame after taking support at its 50 DMA.

Promoter/FII Holdings
Promoters held 34.4 per cent stake in the company as of March 31, 2021, while FIIs held 18.6 per cent, DIIs 25.4 per cent and public and others 21.6 per cent.