Buy Tata Steel, target price Rs 555: Motilal Oswal

Motilal Oswal has given a buy rating to Tata Steel with a target price of Rs 555. The share price moved up by 2.05 per cent from its previous close of Rs 532.55. The stock’s last traded price is Rs 543.45.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 64167.93 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 37153.99 Crore, up 52.97 % from last quarter Sales of Rs 24288.51 Crore and up 9.43 % from last year same quarter Sales of Rs 33953.75 Crore Company reported net profit after tax of Rs 1591.52 Crore in latest quarter.

Investment Rationale
Breakout and momentum in entire metal sector along with higher high – higher low on weekly scale

Promoter/FII Holdings
Promoters held 34.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 11.5 per cent, DIIs 30.1 per cent and public and others 24 per cent.