Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 87816.98 Crore) operating in Metals – Ferrous sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 39809.05 Crore, up 6.51 % from last quarter Total Income of Rs 37376.13 Crore and up 11.78 % from last year same quarter Total Income of Rs 35613.34 Crore. Company reported net profit after tax of Rs 3922.56 Crore in latest quarter.
Investment RationaleThe stock has broken out of a bullish flag pattern on healthy volumes, triggering resumption of the uptrend. Further, it is on the verge of breaking out of its Jan 2018 high at Rs 748. A successful breakout on good volumes will extend the uptrend to Rs 765-820. RSI has turned higher after taking support at the 60 level, suggesting that a string up move is in action.
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.
