Tata Steel Share Price: A Profitable Investment Opportunity 💰📈
The new year started with a bang for Tata Steel shareholders as the company’s shares opened on a high note on January 1st, 2024, trading at ₹142. However, experts from brokerage firm Kotak Institutional Equities have advised investors to exercise caution when it comes to investing in Tata Steel shares. Some brokerage firms have even recommended buying Tata Steel shares with a “buy” rating, setting a target price of ₹145.
On Friday, January 5th, 2024, Tata Steel shares were trading at ₹134.80, showing a 0.41% increase. It’s worth noting that in March 2023, the shares were trading at a low of ₹101.65, hitting a 52-week low. Over the past nine months, Tata Steel shares have been trading between ₹100 and ₹142. According to Kotak Institutional Equities, Tata Steel shares have given investors a 20% return in the last two months alone. Moreover, in the past month, the share price has seen a 7% increase, and over the past six months, it has surged by 23%.
Experts attribute this growth to the development of the basic infrastructure, which has increased the demand for steel, thanks to the Indian government’s focus on this sector. Despite global pandemics, wars, and other negative issues, the steel industry continues to show signs of improvement. Experts predict a 10-12% growth in steel demand in 2023. However, concerns have been raised about the increasing steel imports from China, which exported 8 million tonnes of steel per month in 2023, the highest level since 2015. This not only affects the international steel prices but also impacts the profits of domestic companies.
To dominate a significant portion of the metal market, Tata Steel will need to increase its annual production capacity by 1-2 million tonnes. 🏭
So, if you are an investor looking for a profitable opportunity, Tata Steel shares might just be the perfect investment for you! 💼💰 But remember, always stay updated with the latest news and expert opinions before making any investment decisions. 📰🔍
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.
