Buy Tata Steel

Technical Analyst Rupal Saraogi has maintained 'buy' rating on Tata Steel stock to achieve an intraday target between Rs 524 - 532.

According to Saraogi, interested investors can buy the stock with a stop loss of Rs 498.

The shares of the company, on May 21, closed at Rs 509.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 737 and a low of Rs 335.30 on BSE.

Current EPS stood at -48.57.

Private steel companies Tata Steel, Essar, JSW, Ispat may pick stakes in International Coal Ventures Ltd (ICVL), a JV of publicly owned firms to get hold of coal assets out of the country.

"The time is ripe to rope in private companies as partners in the SPV (special purpose vehicle) and leverage the combined strength to tap global opportunities coming in the way," a representative of the steel ministry said.

According to the other functionary, talks have already happened with private steel companies.

He added that that they'll settle on the amount of equity, which other associates may be offered. It will vary between 10% to 20%.

On May 17, Tata Steel and SAIL entered discussions to set up a manufacturing plant in India.




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