Stock market analysts have maintained ‘buy’ rating on Tata Steel stock with an intraday target of Rs 160.
According to them, interested traders can purchase the stock above Rs 148 with a strict stop loss of Rs 140. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 165.
Shares of the company, on Tuesday (Dec 02), closed at Rs 148.65 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1706821. Current EPS & P/E ratio stood at 75.97 and 2.13 respectively. The share price has seen a 52-week high of Rs 952 and a low of Rs 146.35 on BSE.
It has been announced by the Mahindra Ugine Steel Company that it has decided to align the company's production plans with the expected demand due to the ongoing economic slow down in the steel as well as the automotive industry and taking into account the slowdown in demand for the company's products.
British steel maker Corus, formerly known as British Steel, is to be merged by 
The government’s move to across-the-board cut of 4% in the ad valorem Cenvat rate, which will be effected for the balance part of the current fiscal on all products other than petroleum, is surely going to benefit the construction grade steel like TMT and structural steels, made by Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd and Tata Steel. 
Tata Steel, India’s leading steel maker has introduced an early separation scheme for its employees in its Jamshedpur plant in Jharkhand to downsize its ‘less skilled’ workforce. Tata Steel spokesperson said, "ESS scheme is a voluntary scheme and has got nothing to do with the global economic recession. We cannot ascertain the number of people who will be opting for this option. In view of investment in better and modern technology to increase productivity level, more skilled and fewer people are required."
Despite current economic slump, Steel Authority of India Limited (SAIL) has announced that it envisages 
