Buy Tata Steel on dips, says Vishal Malkan

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Buy Tata Steel on dips, says Vishal Malkan

Buy Tata Steel on dips, says Vishal Malkan of www.malkansview.com.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Vishal Malkan See what other Experts & Brokerages are saying about Tata Steel See messages about Tata Steel

Buy Tata Steel on dips, says Vishal Malkan of www.malkansview.com .

Malkan told CNBC-TV18, "Tata Steel has a strong resistance at the level of Rs 480, above that only we can see fresh upside till then we should have look for buying on dips rather than buying on breakout."

The company's trailing 12-month (TTM) EPS was at Rs 71.58 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 6.59. The latest book value of the company is Rs 503.19 per share. At current value, the price-to-book value of the company was 0.94. The dividend yield of the company was 2.54%.