Reduce Tata Steel, target price Rs 769: ICICI Securities

ICICI Securities has reduce call on Tata Steel with a target price of Rs 769. The current market price of Tata Steel Ltd. is Rs 906.95.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 108672.46 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 39809.05 Crore, up 6.51 % from last quarter Total Income of Rs 37376.13 Crore and up 11.78 % from last year same quarter Total Income of Rs 35613.34 Crore. Company reported net profit after tax of Rs 3922.56 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 34.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 11.5 per cent, DIIs 30.1 per cent and public and others 24 per cent.