Tata Steel 's board is expected to meet today to discuss sale of its UK assets. Sources have told CNBC-TV18 that the steel major is likely to hold asset sale as of now. If the deal does not go through, some pressure will be seen on the stock in near-term, says Tarang Bhanushali of IIFL who has a reduced rating on Tata Steel. In case of no deal, the target price for the stock is Rs 305. However, if the company manages to offload its assets, stock could rally to levels of Rs 346. Operations for the company too will improve from 2018 in this scenario. Bhanushali doesn’t see margins for steel players improving much in next 2-3 years. Utlization levels are high, capacities at sub 70 percent and demand looks subdued for the sector, he says.
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