Buy Tata Steel, target price Rs 1390: IIFL

IIFL has buy call on Tata Steel with a target price of Rs 1390. The current market price of Tata Steel is Rs 1330.5. Time period given by analyst is Intra Day when Tata Steel price can reach defined target. IIFL recommended to keep stoploss at Rs 1295.

Tata Steel, incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 162585.65 Crore) operating in Metals - Ferrous sector.

Tata Steel 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 has reported a Consolidated Total Income of Rs 60842.72 Crore, up 0.48% from last quarter Total, Income of Rs 60553.63 Crore and up 52.84% from last year same quarter and Total Income of Rs 39809.05 Crore. Company has reported net profit after tax of Rs 9415.88 Crore in latest quarter.

Investment Rationale
Flag pattern breakout noticed on Tata Steel's charts.

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.