Buy Tata Steel, target price Rs 1470: IIFL

IIFL has buy call on Tata Steel with a target price of Rs 1470. 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 171732.59 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
Stock has seen an unwinding of short positions in its futures contract.

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.