Buy Tata Steel, target price Rs 440: Kotak Securities

Kotak Securities has given a buy rating to Tata Steel with a target price of Rs 440. The share price moved up by 1.57 per cent from its previous close of Rs 425.45. The stock’s last traded price is Rs 432.15.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 51235.60 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 24288.51 Crore, down 28.08 % from last quarter Sales of Rs 33769.95 Crore and down 31.35 % from last year same quarter Sales of Rs 35382.16 Crore. Company reported net profit after tax of Rs -4663.13 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 34.41 per cent stake in the company as of March 31, 2020 while FIIs held 12.39 per cent, DIIs 29.36 per cent and public and others 29.32 per cent.