Karvy Stock Broking Limited has maintained ‘Sell’ rating on Tata Steel stock to achieve a target of Rs 625 today.

The investors are advised to sell the stock to avoid loss, as there are full chances of a downward trend in this stock in today’s session.

If the stock fell below Rs 643, it may see more weakness.

According to Karvy, investors can sell the stock below 650 with a strict stop loss of Rs 660.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.

Today, the shares of the company opened at Rs 665 on the Bombay Stock Exchange (BSE), as against its last closure at Rs 657.45 on Thursday. Current EPS and P/E stood at 64.14 and 9.87 respectively. The share price has seen a 52-week high of Rs 969.80 and a low of Rs 469.04 on BSE.

At 11:33 am, the shares of the company lost Rs 16.85 at Rs 640.60 at the Bombay Stock Exchange (BSE) on Friday.

The scrip has touched an intra-day high of Rs 666.70 and low of Rs 640.00. The total volume of shares traded at the BSE is 965,809. In the earlier session, the shares lost 11.3%, or Rs 83.75, at Rs 741.20.

At this time, the stock is trading down 33.95% from its 52-week high of Rs 969.80 and above 36.58% over the 52-week low of Rs 469.04.

The company declared a robust growth in its consolidated net profit for the year ended Mar. 31, 2008.

During the year, the consolidated profit surged 2.96 times to Rs 123,499.80 million as against Rs 41,772.70 million during the last year. The consolidated total income of the company zoomed 5.15 times to Rs 1,321,100.90 million from Rs 256,504.50 million in the last year.

The company’s directors recommended 2% dividend on cumulative convertible preference shares (CCPS) of Rs 100 each payable on pro-rata basis from the date of allotment of CCPS i.e. Jan. 18, 2008 to Mar. 31, 2008 and 160% dividend on ordinary shares of Rs 10 each for the year ended Mar. 31, 2008, subject to the approval of shareholders at the annual general meeting.