( Recommended in SAKAL NEWS PAPER. Arthvishwa ) : 13th April 2009
Tata Steel Ltd Ltd: Rs 261.20Notable observes :
- Tata Steel is the world's 6th largest steel company. It is a Asia's 1st and as well as India's largest integrated steel company in private sector with operations in 24 countries and commercial presence in over 50 countries.
- The company focused on Steel Division, apart from the main Steel Division, Tata Steel's operations are grouped under six Strategic Business Units include Bearings Division, Ferro Alloys and Minerals Division, Agrico Division, Tata Growth Shop (TGS), Tubes Division and Wire Division.
- Tata Steel is a global player with a balanced presence in developed European and fast growing Asian markets and with a strong position in the construction, automotive and packaging markets.
- Its Jamshedpur steel works produces hot and cold rolled coils and sheets, galvanised sheets, tubes, wire rods, construction rebars, rings and bearings.
Share Holding patern :
- Promoter : 33.95 %
- Public : 66.05 %
Financial Highlights:
- Net profit of Rs 732.21 Crore for the quarter ended December 31, 2008 as compared to Rs 1311.76 Crore for the quarter ended December 31, 2007.
- Income has increased from Rs 32074.34 Crore for the quarter ended December 31, 2007 to Rs 33222.59 Crore for the quarter ended December 31, 2008.
Technical Overview :
- The stock On Weekly Chart has given "Channel Breakout ".The volumes for the week looks less due to 2 days trading holiday last week.
- On Daily chart the stock has formed "Higher Top & Higher Bottom Formation"with heavy volumes, indicating the trend reversal.The stock is recomended to buy cmp Rs 261.20
Support Levels :
- Support 1 : 239
- Support 2 : 221
- Support 3 : 207
- Support 4 : 193
Stop Loss : 178 on closing basis.
Targets :
- Target 1 : 276
- Target 2 : 358
- Target 3 : 422
- Target 4 : 488
Period : 6 to 9 months.