Buy Tata Steel @ Rs 260, Target Rs 300

Buy Tata Steel @ Rs 260, Target Rs 300

Mar` 13	Mar` 12	Mar` 11	Mar` 10	Mar` 09
Income:
Operating Income		33838.51	29307.35	24940.65	24348.32
Expenses:
Financial Expenses		1925.42	1686.27	1848.19	1489.5
Personnel Expenses		3047.26	2618.27	2361.48	2305.81
Selling Expenses		1832.4	109.36	82.17	61.49
Adminstrative Expenses		2119.56	1922.33	1622.77	1518.83
Expenses Capitalised		-478.23	-198.78	-326.11	-343.65
Operating Expenditure		8446.41	6137.45	5588.5	5031.98
Operating Profit		12012.49	11170.25	8905.59	9176.44
Other Recurring Income		550.76	327.91	331.59	305.36
Adjusted PBDIT		12563.25	11498.16	9237.18	9481.8
Provisions Made		0	0	0	0
Depreciation		1151.44	1146.19	1083.18	973.4
Other Write offs		0	0	0	0
Adjusted PBT		9486.39	8665.7	6305.81	7018.9
Tax Charges		3162.63	2912.44	2168.5	2114.87
Adjusted PAT		6323.76	5753.26	4137.31	4904.03
Non Recurring Items		372.66	1107.89	909.49	297.71
Other Non Cash adjustments		0	0	0	0
Reported Net Profit		6696.42	6861.15	5046.8	5201.74
Earnigs Before Appropriation		23335.01	19633.8	14555.78	11589.2
Equity Dividend		1165.46	1151.06	709.77	1168.95
Preference Dividend		0	0	45.88	109.45
Retained Earnings		21987.98	18326.03	13677.33	10096.7