Technical analyst Anu Jain has maintained 'buy' rating on Tata Steel Limited stock.

The analyst said that the interested investors can buy the stock above Rs 630 to achieve a target of 648-650.

The stock of the company, on April 20, closed at Rs 625 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 713.80 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 78.28 and 8.05 respectively.

Tata Steel announced that it has entered into a licensing deal with mining major Rio Tinto for commercial development of eco-friendly direct iron smelting procedure, known as HIsarna.

In a declaration, it said, "The agreement covers how both parties will work together, sharing their existing knowledge of the two technologies that are combined in the new process."

The HIsarna iron-manufacturing procedure comprises cyclone pre-reduction technology (CCF), possessed by Tata Steel, and bath smelting technology (HIsmelt), which is possessed by Rio Tinto.

The HIsarna technology has long-standing prospective to put back conventional blast furnaces, coke ovens and sinter plants and to lessen carbon-di-oxide emissions by over 50% if blended with Carbon Capture and Storage
(CCS).

Tata Steel has registered a 4.4% increase in FY11 crude steel production to 6.85 million tonnes, surpassing installed capacitance at its Jamshedpur plant.

The company had developed 6.56 MT crude steel within the earlier fiscal.