Hitendra Vasudeo of stockmechanics.com has suggested investors to buy Tisco above Rs 905 to achieve an intraday target of Rs 918.

Today, Tisco stock opened at Rs. 900, after the previous close of Rs. 892.75 at BSE. Presently (12:02 pm), the stock is trading 0.36% up at Rs. 896 on BSE.

The stock opened at Rs. 906, after the previous close of Rs. 892.80 at NSE. At present, the stock is trading 0.53% up at Rs. 897.55 at NSE.

The investors are suggested not to sell this stock before achieving this target.

Tisco is currently trading at a P/E multiple of 14.30. The net profit for the last quarter was 1190.83 crore, and the company has great expectations from the results to be announced next month.

Tata Steel in a bid for raw material security is now keen on the Western Cluster Iron Ore deposits in Liberia, for which a bid has already been submitted. The Western Cluster consists of several deposits spread over 207.58 sq km and the investment is likely to be around USD 1.5 billion.

Tata Steel is one of the shortlisted bidders and the only company from India. Presently, the company`s iron ore security with Corus is 20%, while on a standalone basis, Tata Steel has a 100% security.

Other steel stocks looking good for intraday dealings SAIL, JSW Steel and Visa Steel.