Buy Tata Steel, target price Rs 1494: ICICI Direct

ICICI Direct has buy call on Tata Steel with a target price of Rs 1494. The current market price of Tata Steel Ltd. is Rs 1466.6.

Time period given by analyst is intraday 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 176217.97 Crore) operating in Metals - Ferrous sector.


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
Price resumes uptrend after higher base formation above 34 day EMA& stochastic in buy mode

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.