Buy Tata Steel, target price Rs 1240: Kotak Securities

Kotak Securities Limited has buy call on Tata Steel with a target price of Rs 1240. The current market price of Tata Steel Ltd. is Rs 1207.5. 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 147403.66 Crore) operating in Metals - Ferrous sector.

Tata Steel Ltd. key Products/Revenue Segments include Steel & Steel Products, Power and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 60553.63 Crore, up 13.11 % from last quarter Total Income of Rs 53534.04 Crore and up 62.01 % from last year same quarter Total Income of Rs 37376.13 Crore. Company reported net profit after tax of Rs 12362.44 Crore in latest quarter.

Investment Rationale
Doji candlestick formation indicates bullish continuation from current levels.

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.