Tata Steel Ltd shares have been falling since last June. Shares have fallen by 41% from their 52-week high of ₹184.60 on June 18, 2024. The stock is now at its 52-week low of ₹122.60, hit on January 13, 2025. Since Tata Steel is trading below all the major moving averages like 10-day, 20-day, 50-day, 100-day, and 200-day, the short-term trend of Tata Steel is negative.
Despite this protracted period of slumping, shares of Tata Steel Ltd experienced a slight upside, up by 2% in the afternoon session today to close at ₹131. During the last week, the stock went up by 2.39%. The total market capitalization of ₹1.62 lakh crore witnessed 15.24 lakh shares that were traded in today’s BSE turnover. The turnover totaled ₹19.67 crores.
Experts Bullish About Shares of Tata Steel Ltd
While the stock has been under pressure for a long time, analysts are cautiously optimistic. ICICI Securities has maintained a “BUY” rating with a target price of ₹190, expecting a revival in Tata Steel’s operating environment. Antique Broking and JM Financial have set price targets at ₹175. JP Morgan has reiterated its overweight stance with a target of ₹180.
Analyst AR Ramachandran likes the space for near-term upside, pointing to ₹127 as support. A daily close above resistance at ₹131 can send the stock to ₹144. Jigar S Patel of Anand Rathi observed that if ₹133 is broken decisively, the stock could go further higher. It has a short trading range of ₹125 to ₹138 for the near term.
Tata Steel Likely to See Its Profit Improve From FY25-27
Tata Steel is likely to see its profit improve from FY25-27, based on ramping up the capacity of its KPO-II plant. According to Axis Securities, cost cuts along with the additional substantial capacity coming out of this plant will support its price target at ₹175.
Tata Steel’s relative strength index or RSI at 35.1 indicates it’s neither over-sold nor over-bought at the moment; investor sentiment stays even keel.
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