Tata Steel FPO looks attractive: Motilal Oswal

Tata Steel FPO is attractively priced, says Rajat Rajgarhia, Motilal Oswal Securities.

Rajgarhia told CNBC-TV18, "Tata Steel FPO is definitely attractively priced. As a company, as you see the Jamshedpur expansion coming up over the next 12 months, the rising proportion of the domestic volumes will be much better from the overall earnings profile. Second, on the offshore side we are seeing that the raw material integration for Corus both on the coking coal and iron ore is going to get better because they already have made investments in few ventures. So unless you see any global scare, I think rising proportion of domestic and better raw material integration along with the fact that these are some good times from an issues point of view where companies are offering good attractive prices for investors to get in. So this price of Rs 610 is a fairly good price for people to get into the stock." He further added, "From SAIL point of view, today