Tata Steel share price: Should you buy this Tata Group stock at current levels?

Tata Steel share price has been hovering around Rs 100 per share after the stock split. Tata Steel stock was split in the ratio of 10:1 ratio. The shareholders were allotted 10 shares of Tata Steel for every one share held, while the prices were adjusted to below Rs 100 from Around Rs 1000 before the ex-split date.    

On Monday, shares of Tata Steel ended with marginal cuts at Rs 107.20 per share on the BSE.  

As the share price continues to trade around Rs 100, is it the right time to accumulate this Tata Group stock? 

Earlier, after the share split, Manoj Dalmia, founder and director, Proficient equities Private limited had said we recommend a buy rating on Tata Steel as due to the split, the stock might appear cheaper and can attract some buying. 

Dr. Ravi Singh, vice President and head of Research, Share India, had recommended to buy the stock around Rs 80-85 for the long-term.  

"Investors should wait to enter fresh long positions in the stock at current levels. The value  buying seems to trigger around Rs 85 - 80 levels for the long-term perspective," Singh had recommended.  

Punit Patni, Equity Research Analyst, Swastika Investmart Ltd had also said he holds a neutral view on the company from a short to medium-term perspective as the normalization of profitability has commenced due to the steel prices witnessing a cool-off, the subdued global demand because of the rate hike regime by the global central banks, and the export duty imposed by the GOI which will create a supply glut in the domestic markets. 

"However, long-term investors with moderate to high-risk appetite can accumulate the stock on dips as the demand outlook remains positive in the long term," he had recommended.