Buy Tata Steel, target price Rs 1450: Edelweiss

Edelweiss has buy call on Tata Steel with a target price of Rs 1450. The current market price of Tata Steel Ltd. is Rs 1345.25.

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 161792.52 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 30-06-2021, the company reported a Consolidated Total Income of Rs 53534.04 Crore, up 6.54 % from last quarter Total Income of Rs 50249.58 Crore and up 118.68 % from last year same quarter Total Income of Rs 24481.09 Crore. Company reported net profit after tax of Rs 9646.07 Crore in latest quarter.

Investment Rationale
Breakout after a base formation at levels of 1,250 with a trendline breakout since the all-time highs.

Promoter/FII Holdings
Promoters held 34.41 per cent stake in the company as of 30-Sep-2021, while FIIs owned 22.38 per cent, DIIs 18.27 per cent.