Tata Steel Share Price đđ°
1. Tata Steel’s share price has seen a record surge in the Indian stock market in recent days. Despite a slight dip on Wednesday, the market has consistently risen, attracting both investors and companies.
2. After a long time, Tata Steel, a steel company under the Tata Group, has witnessed a 1% rise in its shares along with a surge in the metal index. Brokers are also showing enthusiasm for Tata Group shares.
3. The company’s share dropped by 4.21%. Among the 30 shares in the BSE index on Wednesday, Tata Steel Limited recorded the highest decline. Tata Steel’s share closed at INR 129.70 with a 4.21% drop on the BSE. Meanwhile, on the NSE, Tata Steel’s share fell by 4.84% to INR 128.85. The share reached a low of INR 101.60 on December 26, 2022, and a high of INR 137.65 on December 18, 2023.
4. There is a possibility of the share price increasing. Brokerage firm Jefferies has recommended buying Tata Steel shares, raising the target price from INR 145 to INR 160. In a note to steel companies, Jefferies stated that steel prices have increased by 8% in the past two months after a 22% decline from March to October.
5. Swastika Investmart’s Chief Entry Gaurav Gaur said that Tata Steel’s share is in a classic uptrend with strong volumes and a breakout in flag manufacturing. The stock is currently trading above its average, with a good buying zone at around INR 135.40 and a target of INR 145.
6. Tata Steel has set a new target for itself. The company aims to expand its Kalinganagar project by December next year. In November 2018, the company began the second phase of expanding its Kalinganagar project in Odisha, investing INR 23,500 crore to increase its production capacity from 3 million tons annually to 8 million tons.
7. đđ° Tata Steel’s share price is on the rise, attracting investors and brokers alike. With the company’s plans for expansion and positive market trends, there is optimism for the future of Tata Steel shares.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
