Stock market analysts have maintained 'Buy' rating on Tata Steel stock to achieve an intraday target of Rs 420.15.

According to analysts, investors can buy the stock around Rs 410.20 with a stop loss of Rs 400-402. If the stock remains positive, the next intraday target should be above Rs 430.

Shares of the company, on Friday (May 29), closed at Rs 406.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 924.60 and a low of Rs 146.35 on BSE. Current EPS and P/E of the stock stood at 67.73 & 6.29 respectively.

On May 30, Tata Steel UK, a 100% indirect subsidiary of Tata Steel, bagged lenders` consent to rearrange the deals in its GBP 3.7 billion acquisition-related senior debt facility. The Lenders voted unanimously supporting the company's offer.

The Jharkhand administration, on May 25, has given a prospecting license (PL) to Tata Steel for the Ankua iron ore mines.

Tata Steel has been provided 1,800 hectares for prospecting in the Ankua region.

Jharkhand's administration had suggested to the Centre a separate iron ore prospecting region two years back at Ankua (West Singhbhum) to Essar Steel, JSW and Tata Steel.

On May 20, Tata Steel received Rs 20 billion loan from LIC that will assist the company make added equity infusions into its UK division.

It is discovered that LIC, India's biggest financial institution, will subscribe to Tata Steel's non-convertible debentures (NCD) carrying an interest rate of 10.5%.

Tata Steel has decided to lift up Rs 30 billion via issuing NCDs. Rating agency Fitch has set Tata Steel`s bonds at AA Ind, showing low risk of default.