Technical analyst Hitendra Vasudeo has maintained 'buy' rating on Tata Steel Limited stock with a target of Rs 685.

The analyst said that the stock can be purchased with a stop loss of Rs 674.

The stock of the company, on December 21, closed at Rs 675.55 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 80.87 and 8.33 respectively.

Tata Steel, one of the world's top 10 steel manufacturers, is making discussions to get rid of its South African assets for over Rs 1 billion.

Standard Chartered's investment banking team in the country had been mandated to choose a prospective purchaser.

Bish Chakraborty, executive director of engineering at Tata Africa Holdings stated, "I am not able to tell you: the people who do this are all in India. It is difficult to say which department is involved in this."

Tata Steel has recorded a consolidated net profit of Rs 19,788.1 million for the three month period ended Sep. 30, 2010 as against a loss of Rs 27,072.5 million in the same period of last year.

Company's net sales remained at Rs 280,909 million for the quarter under review.