Sell Tata Steel, target price Rs 1055: Chandan Taparia

Chandan Taparia of Motilal Oswal has sell call on Tata Steel with a target price of Rs 1055. The current market price of Tata Steel Ltd. is Rs 1107.55. 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 134001.85 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 31-03-2022, the company reported a Consolidated Total Income of Rs 69615.70 Crore, up 14.42 % from last quarter Total Income of Rs 60842.72 Crore and up 38.54 % from last year same quarter Total Income of Rs 50249.58 Crore. Company reported net profit after tax of Rs 9675.77 Crore in latest quarter.

Investment Rationale
Weekly breakdown and trading below its 50 weekly MA with lower highs from the last seven sessions

Promoter/FII Holdings
Promoters held 33.92 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.87 per cent, DIIs 20.41 per cent.