I had mentioned in my other blog post the stocks that I am looking at the moment to put in, in fact I already did, my money. One of them is Tata Steel. I thought I will look at the various analyst/brokerage houses predictions for Tata Steel and see whose estimate was closer to the actual stock price.
My decision to buy Tata Steel is purely on its reaching its 52 week low. I do hear news about steel prices cooling down which will in turn reduce the margins of these companies but I assume this information has been reflected in the stock price which should be according to the efficient market theories.
The following gives the estimates from 4 houses which I picked from Rediff. One interesting thing is that Tata Steel's price has nose dived in the last few days which were after these houses published their recommendation. I don't know the reasons for this but lets see how far these houses are right. I will keep updating this post for any new estimates and track this stock progress.
Broking house Action Date Price (Rs)
Edelweiss Research Buy Sep 10, 08 1,035.00
Indiabulls Hold Sep 10, 08 605.00
Religare Buy Sep 09, 08 780.00
Merrill Lynch Buy Sep 04, 08 700.00
RK
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