Technical analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Tata Steel Limited stock with a target of Rs 720.

According to analyst, the investors can purchase the stock with a stop loss of Rs 600.

Today, the stock of the company opened at Rs 640.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 737 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 80.87 and 7.92 respectively.

The company will lift up transaction costs for structural segments in the United Kingdom by GBP 50 per tonne effective on all deliveries from Sunday January 2 next year.

It said "The increase is necessitated by continuing high raw materials costs and the need to set new, sustainable market levels in the New Year."

For the three month period ended Sep 2010, Tata Steel has registered a consolidated net profit of Rs 19,788.1 million as against a loss of Rs 27,072.5 million during the same quarter of 2009.

Company's consolidated net sales surged 11.16% to Rs 280,909 million for the three month period ended Sep 2010 as compared to Rs 252,698 million for the same period of last year.