Stock market analyst Ashwani Gujral has maintained 'sell' rating on Tata Steel Ltd stock with a target of Rs 585.

According to analyst, the investors can sell the stock with a stop loss of Rs 682.

Mr. Gujral said that after selling the stock, the interested investors can buy the stock on declines for medium or long term target.

The stock of the company, on Oct 07, closed at Rs 649.55 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 737 and a low of Rs 446 on BSE.

Current EPS & P/E ratio stood at 39.33 and 16.51 respectively.

For the second quarter (Q2) of 2010-11, the domestic sales of the company surged 14%, whereas its sales for the first half of the existing fiscal grew by 6%as against the same period of 2009-10.

Tata Steel's second quarter sales for 2010-11 has witnessed an augmentation to 1.660 million tonne (mt) as compared to 1.457 million tonne (mt) in 2009-10.

During the second quarter, the company witnessed its saleable steel production growing by 6%to 1.61 million tonnes as compared to 1.51 million tonnes in 2009-10.

For the first half of 2010-11, Tata Steel saw its saleable steel production increasing by 5%to 3.2 million tonnes as against the output during the first six months of the last financial year.

Moreover, the company has augmented its concentration on managing liquidity by stretching loan terms.

This is part of the Tata Steel's plans to finish its capacity growth plans by 2012 or 2013.