I could not understand the difference of opinion among the stock market analysts.
One expert says that Tata Steel should be bought less than Rs.700 level and one says it is still a good buy at this rate of Rs. 830.00
I think it is still a good buy at this rate but what Srivatsan Srinivasan from Madras says also make sense to me. He says in his blog that at the current rate, "the stock trades at around 12 times it's fully diluted FY08E EPS of Rs. 68".
News papers report that Tata Steel is undertaking some major expansions and that may push up its price shortly. I usually don't speculate on the market. I take long term position.
Is it adviasbale to take positions at this level or do I have to wait?