Tata Steel Stock Price Rises on Strong Industrial Production in China

Tata Steel Share Price on 20 March 2024

🚀📈 Tata Steel company’s shares are seeing a sharp rise. On Monday, Tata Steel’s share rose by 5% to reach an intraday high of ₹149.10. Steel stocks are rallying on strong industrial production growth in China. 🇨🇳

🏗️📈 China recorded a 7% growth in industrial production during January-February 2024. There was also an increase in metal production. Tata Steel’s share was trading at ₹151.40 on Tuesday, 19 March 2024, up by 1.14%. However, on Wednesday (20 March, 2024), the share was trading at ₹148 with a 0.61% decrease.

💼💰 Bloomberg had estimated a 5.2% growth in China’s industrial production. In December 2024, China’s industrial production increased by 6.8%. In yesterday’s trading session, Tata Steel company bought and sold 10 crore shares, which is double the average of last month.

🔍💡 According to experts at Arihant Capital Markets, Tata’s share could touch ₹149-154 in the coming weeks. However, investors are advised to set stop losses at ₹137 when investing. Some other experts have set a target price of ₹155 for Tata Steel company’s shares.

💵💼 Tata Steel earned a net profit of ₹522.14 crore in the December quarter.

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