Sell Tata Steel, target price Rs 1060: Motilal Oswal

Chandan Taparia of Motilal Oswal Securities has a sell call on Tata Steel Ltd. with a target price of Rs 1060. The current price of Tata Steel Ltd. is Rs 1132.55. Chandan Taparia recommends to keep a stoploss at Rs 1140.

Tata Steel Ltd., incorporated in the year 1907, is a Large-Cap company (having a market cap of Rs 133537.68 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.


Investment Rationale
Stock breached its 200-DMA on daily scale and gave a breakdown from its range.

Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 60553.63 Crore, up 13.11 per cent from last quarter Total Income of Rs 53534.04 Crore and up 62.01 per cent from last year same quarter Total Income of Rs 37376.13 Crore. Company has reported net profit after tax of Rs 12362.44 Crore in latest quarter.