Stock market analyst Jatinder Sharma is of the view that investors can 'buy' Tata Steel stock with a target of Rs 510.

According to analyst, the investors can buy the stock with a stop loss of Rs 484.

The stock of the company, on May 27, closed at Rs 493 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 737 and a low of Rs 345 on BSE.

Current EPS is -48.57.

According to reports, the company's board has given nod to preferential issue of 1.5 crore shares to Tata Sons and issue of 1.2 crore warrants to Tata Sons.

Moreover, Tata Steel has signed a letter of intent (LoI) to raise its equity stake in Canadian mining company New Millennium Capital Corp to 27.4%.

According to a hint from New Millennium Capital Corp, the letter of intent was being tracked by Tata Steel's division Tata Steel Global Mineral Holdings Pte.

Presently, Tata Steel holds 19.65% stake in New Millennium Capital Corp.

Tata Steel would spend around $300 million for 80% of the project.

The company eyes about 4 million tonnes of sinter fines is projected from the third quarter of next year.