Buy Tata Steel, target price Rs 1345: ICICI Direct

ICICI Direct has buy call on Tata Steel with a target price of Rs 1345. The current market price of Tata Steel Ltd. is Rs 1291.75. 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 157811.21 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 31-12-2021, the company reported a Consolidated Total Income of Rs 60842.72 Crore, up .48 % from last quarter Total Income of Rs 60553.63 Crore and up 52.84 % from last year same quarter Total Income of Rs 39809.05 Crore. Company reported net profit after tax of Rs 9415.88 Crore in latest quarter.


Investment Rationale
Breakout above three-month range as it witnessed strong rebound after a base at 200-days EMA.

Promoter/FII Holdings
Promoters held 33.92 per cent stake in the company as of 31-Dec-2021, while FIIs owned 21.36 per cent, DIIs 18.1 per cent.