
Tata Steel share price today: The rally in shares of Tata Steel have hit a hurdle in a span of three months. The Tata Group's multibagger stock has seen a correction of over 4% during the period. Tata Steel stock has been highly volatile in the last one year with a beta of 1.5. It's trading near the overbought zone with its relative strength index (RSI) at 69.3. An RSI of 70 or above indicates there are more buyers than sellers for the stock.
At the current level, the stock has gained 47% from its 52-week low of Rs 114.25 reached on November 2, 2023.
Tata Steel stock has gained 31.17% in a year and gained 20% in 2024. The stock has delivered multibagger returns of 394% in five years and risen 298% in ten years.
In the current session, the metal stock was trading on a flat note on Rs 168.15 on BSE. Market cap of Tata Steel rose to Rs 2.09 lakh crore. Total 17.69 lakh shares changed hands amounting to a turnover of Rs 29.74 crore on BSE.
The Tata Group stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages indicating that the stock is in bullish zone.
Shares of Tata Steel hit a record high of Rs 184.60 on June 18, 2024.
Morgan Stanley has upgraded to Tata Steel to an 'equal-weight' call while its price target was raised nearly 30 percent to Rs 175.
JM Financial has a price target of Rs 180 on Tata Steel for 12 months. The brokerage has a BUY call on the stock.
International brokerage Jefferies has a buy call on Tata Steel with a target price of Rs 200 per share.
The brokerage said Tata Steel intends to infuse $2.1 billion into an overseas holding company to refinance existing debt at its offshore entities and to cover restructuring costs in the UK.
Jefferies sees a stronger volume rise in FY26 (16%) compared to FY25 (7%). Despite potential risks from weak Asian steel prices and imports from China, lower coking coal prices are expected to support margins.
Jefferies expects that Tata Steel Europe’s EBITDA per tonne will improve from a loss of $40 in 4QFY24 to breakeven in FY25 and $20 in FY26.
Subash Gangadharan, a technical analyst at HDFC Securities has assigned a price target of Rs 175/ Rs 188. One should fix stop loss at Rs 150 and time period of the call is two months.
"After a fall in the last few months, Tata Steel has found support near the Rs 142 levels and bounced back," said Gangadharan
Vishnu Kant Upadhyay, AVP - Research and Advisory at Master Capital Services is bullish on the stock with a target price of Rs 176. Stop loss can be fixed at Rs 150.
"Tata Steel has given a consolidation breakout, accompanied by a spike in volumes, which strengthens the case for initiation of fresh bullish rally in stock. The stock now appears favourable for bulls, presenting a strong opportunity. Stock is currently trading above the 21-day EMA, it signals strength, while the MACD suggests that positive momentum is likely to continue, further supporting a bullish outlook," said Upadhyay.