Tata Steel Long Term Buy Call

Tata Steel Long Term Buy CallTechnical analyst Pankaj Jain of Satguru Capital is bullish on Tata Steel Limited and has maintained 'hold' rating on the stock to attain a long-term target.

Mr. Jain said that the investors can buy the stock with a target of Rs 700.

Today, the stock of the company opened at Rs 604.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 737 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 78.28 and 7.80 respectively.

Tata Steel is in a cheerful mood.

It is anticipating that the company's production volumes will reach 10 million tonnes by March next year.

Moreover, the steel major is eyeing further fund raising by the coming months.

Tata steel is positive that FY12 will be a healthier fiscal.

As per reports, Tata Steel is making discussions to purchase coking coal mines in western Canada.

Tata Steel had begun discussions with the administration of British Columbia in order to get hold of coal mines.

"The ministers made a proposal to sell virgin coking coal mines and Tata Steel is fairly interested," the report said.

The report also said that administration of British Columbia is very eager on Tata Steel investing in the province.