Tata Sponge Iron Ltd
TATASPONGE

620.35

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618.55

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Buy
Reco. Price
Rs 609.50
We recommend a BUY due to combined improvement in revenues and margins boosting profitability. This is aided by government regulations of raising MIP for steel. The recommendation also takes account of the company’s strong financials. The stock is currently trading at FY17E P/E multiple of 15.3x. (Target Price - Rs.685.8)
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50 DMA (.)
599.31
100 DMA (.)
588.46
200 DMA (.)
598.01
Weekly Range (.)
608.80
652.00
Monthly Range (.)
589.55
652.00
52 Weeks Range (.)
365.00
685.00
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