Motilal Oswal has given a buy rating to Tata Steel NSE -3.55 % with a target price of Rs 446. The share price moved down by 1.83 per cent from its previous close of Rs 423.35. The stock’s last traded price is Rs 415.60.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 50988.76 Crore) operating in Metals – Ferrous sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 24288.51 Crore, down 28.08 % from last quarter Sales of Rs 33769.95 Crore and down 31.35 % from last year same quarter Sales of Rs 35382.16 Crore. The Company reported net profit after tax of Rs -4663.13 Crore in latest quarter.

Investment Rationale
Higher high – higher lows on daily scale and Nifty Metal index is at the verge of major trend line breakout

Promoter/FII Holdings
Promoters held 34.41 per cent stake in the company as of March 31, 2020 while FIIs held 12.39 per cent, DIIs 29.36 per cent and public and others 29.32 per cent.