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.

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Tata Steel stock to achieve a target of Rs 232 within 1-2 days.

According to Karvy, day traders can buy the stock between Rs 216-218 with a stop loss of Rs 212.

Shares of the company, on Friday (March 21), closed at Rs 223.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 67.73 and 3.12 respectively. The share price has seen a 52-week high of Rs 925 and a low of Rs 146.35 on BSE.

Essar Steel started a new steel processing facility at Oragadam near Chennai investing Rs 75 crore in a bid to enhance its steel service center capacity to satisfy growing demand of steel from clients.

The new facility, located at the SIPCOT Industrial Growth Centre at Oragadam, was inaugurated by Mr. TS Narayanasami, CMD of Bank of India in the presence of Essar Group Chairman Mr. Shashi Ruia.

JSW Steel Ltd has decided to strengthen its focus on rural market.

To get deeper into the rural market, Mr. Sajjan Jindal, Vice-Chairman and Managing Director of JSW Steels, said that the company, which has already opened 60 retail outlets through franchisee route, is planning to take it upto 600 outlets allover India by the next two years.

While talking to media persons at a seminar organized by NMDC in Hyderabad on Monday, Mr. Sajjan said that the company’s overall exports figure accounted for 40% of its production.

A top representative said that steel major Tata Steel is confident of saving 600 million pounds ($831 million) between October 2008 and March 2009 from the operations of its UK-subsidiary, Corus.

Tata Steel bought the Anglo-Dutch company Corus in October 2006.

The company had launched a cost-cutting programme in 2008 in order to save this amount to bridge over the economic disaster.

Siemens VAI Metals Technologies, one of the world's leading engineering and plant-building companies for the iron and steel industry, has won an order worth euro 200 million from public sector Steel Authority of India Limited (SAIL).

The order is for public sector steel major SAIL's upcoming new steel mill, which will be built at the company's Bhilai unit.

For the latest awarded contract, Siemens VAI will engineer and supply three LD converters with a tapping weight of 180 tons.