Buy Tata Steel, says SP Tulsian

Buy Tata Steel, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "All ferrous metal stocks seem to have bottomed out, considering the improvement on the iron front and price stability. SAIL, Tata Steel and JSW Steel are looking good. I was circumspect on all these stocks a month back because the situation was not very clear. But if we go by the present scenario and we see offtake happening it seems that even Tata Steel which was heavily short seeing fresh buying as well. I will definitely go for buying the stock at current levels."
Tata Steel'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 5.77. 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 0.82. The dividend yield of the company was 2.91%.