This equity research report provides an analysis of Tata Steel Ltd. It summarizes that Tata Steel has completed a 2.9 million tonne expansion at its Jamshedpur plant which is expected to contribute Rs 2,500 crore annually to earnings. Tata Steel is also developing coal and iron ore mines in Mozambique and Canada to boost integration and earnings beginning in FY2014. Additionally, Tata Steel's 6 million tonne plant in Odisha could provide long term growth. The analyst maintains a Buy rating on Tata Steel with a target price of Rs 364.78 per share for FY2013-14 based on its positive business outlook and valuation.