Buy Tata Group Metal Stock, TP Rs 150: Prabhudas Lilladher Recommends

Prabhudas Lilladher has recommended investors to buy Tata Steel shares with target price of Rs 150 apiece. Current market price of Tata Steel share on BSE is Rs 139.50 apiece. If you buy Tata Steel stock now at the current market price of Rs 139.50 apiece, you can fetch likely return of 7.53%.

In last 6-months, Tata Steel shares surged soared 25.06% and rose 120% in last 120%. Check details below:

Tata Steel Stock Performance & Return: The stock's 52-week high price is Rs 141.20 per share and 52-week low price is Rs 101.65 per share, respectively. The company has a market capitalisation of Rs 1,71,546.62 crore. Tata Steel shares rose 17% year-to-date, offered return of 25% in last 1-year, and gave return of 172% in last 5-years. In last 10-years, Tata Steel stock rallied 249%.

Earlier this year, Tata Steel acquired stake in The Indian Steel & Wire Products. According to the BSE filing of Tata Steel, "This is to inform you that, Tata Steel Limited ('Company') has today i.e., on September 8, 2023, acquired 26,22,890 equity shares of Rs 10/- each at an issue price of Rs 427.01 per share (including a premium of Rs 417.01 per share), of The Indian Steel & Wire Products Limited ('ISWP'), a subsidiary of the Company, on preferential basis, for an amount aggregating to ~Rs 112 crore (hereinafter referred to as the 'Transaction'). Upon completion of the Transaction, ISWP will continue to be a subsidiary of the Company."

Tata Steel Financials: The large cap company announced a net loss of Rs 6,196 crore for the July-September quarter, according to the BSE filing. Its consolidated total revenue from operations announced at Rs 55,682 core as compared to Rs 59,877 crore declared the year ago period, added the BSE filing.

Tata Steel About: Tata Steel was established in India as Asia's first integrated private steel company in 1907. With this, it also developed India's first industrial city at Jamshedpur. Today, it is among the leading global steel companies. Its annual crude steel capacity across Indian operations is nearly 20 MnTPA and it registered a turnover of INR 91,037 crore in FY21. It also set up its second greenfield steel plant of 3 MnTPA in the eastern state of Odisha in 2016; the expansion to 8 MnTPA in currently underway, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.