JP Morgan on Sun-day increased it’s target price

JP MorganJP Morgan on Sun-day increased it’s target price on India’s TataSteel to 665-rupees from 605-rupees, indicating the steelmaker financial year 2013 story was intact.

However, nearterm head-winds in Europe as well as possible equity issuance continued to be important overhangs, the brokerage firm mentioned in a note.

On Fri, Tata-Steel stocks closed 4 % decrease at 606.30-rupee, even though the key stock index had dropped 2.1 %.

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