Karvy Stock Broking Limited has maintained ‘Buy’ rating on Tata Steel stock to achieve a target of Rs 215 within 1-2 days.
According to Karvy, day traders can buy the stock between Rs 202-203 with a stop loss of Rs 197.
Shares of the company, on Tuesday (March 31), closed at Rs 206 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 67.73 and 3.08 respectively. The share price has seen a 52-week high of Rs 925 and a low of Rs 146.35 on BSE.
The stock also performed well on Tuesday, and there are full chances that the stock can achieve the target within the said period.
In its endeavor to protect domestic industry from a gush of cheap imports from China, Thailand, Japan, and the US, the Indian government has provisionally imposed 'anti-dumping' duty on some of the high-end stainless steel products. To be effective for a six-month period, up to October 21, 2009, the anti-dumping duty would be payable in Indian rupees. 
Steel-pipe producer, Welspun Gujarat Stahl Rohren Ltd has announced the demerger of its Plate-cum-Coil mill into a 100% subsidiary. 
The LN Mittal-controlled company, ArcelorMittal, is reportedly holding up its $20-25 billion proposed steel projects in Orissa and Jharkhand, largely because of the global economic crisis that has weakened demand for steel. As such, the world's biggest steelmaker's pending payment to the state government, for a 1,500-acre land earmarked for the proposed facility, will also be delayed. 
O P Jindal Group, Jindal Stainless Limited (JSL), the India's largest and only integrated Stainless Steel manufacturer, has plans to raise Rs 500 crore through various possible routes to fund its upcoming Rs 5,700-crore stainless steel project in Orissa. 
Reporting its highest-ever fourth-quarter crude steel output figures of 11.06 lakh tonnes, steel manufacturer JSW Steel Ltd has shown an 11 percent growth as compared to the same quarter last year figures. 
