Tata Group Metals Stock Scales New High, 2 Brokerages Recommend Buy

Large cap Tata Group stock Tata Steel shares zoomed to a new high on March 2, 2024 as shares hit back to back 52-week high. Last trading price of Tata Steel shares on BSE is Rs 155.15 per share with intraday gain of 3.43%. Tata Steel shares offered return of 48% in last 1-year and 205% in last 5-years.

Meanwhile, brokerage firm LKP Securities has assigned buy call to Tata Steel shares with target price of Rs 180 apiece. Brokerage firm Prabhudas Lilladher has assigned buy rating with resistance between Rs 158 to 172 and support at Rs 130. If you buy Tata Steel stock at last trading price of Rs 155.15 apiece, you can get potential gain of 16.02%. Check details below:

Tata Steel Block Deal Reports: Earlier on March 2, 2024, as per a report published in Economic Times, Tata Steel shares witnessed rally amid reports of block deal under which 74.1 lakh shares changed hands. Tata Steel shares also witnessed spurt in volume as the traded volume shares are 2,16,43,047 on NSE. Tata Steel shares witnessed sharp surge in volume too as reflected on BSE.

Tata Steel Shares Performance & Return: The 52-week high price of Tata Steel shares on BSE is Rs 156.10 per share and 52-week low price is Rs 101.65 per share, respectively. The company has a market capitalisation of Rs 1,93,680.61 crore. Tata Steel shares gained 19% in last 3-months, zoomed 22% in last 6-months, and offered return of 111% in last 3-years. In last 5-years, Tata Steel stock gained 205%.

Tata Steel Dividend History: Tata Steel announced 29 dividends since May 24, 2001. In the last 12 months, Tata Steel announced an equity dividend amounting to Rs 3.60 per share. At the current share price of Rs 155.15, Tata Steel's dividend yield is 2.32%, according to Trendlyne. Tata Steel declared highest ever dividend in 2022 amounting to Rs 51/share with ex-dividend date fixed as June 15, 2022.

Tata Steel Stock Split History: Tata Steel split the face value 1 time since July 28, 2022. Tata Steel last split the face value of its shares from Rs 10 to Re 1 in 2022. The share has been quoting on an ex-split basis from July 28, 2022.

Tata Steel Quarterly Results: The company for the quarter ended December 31, 2023 declared its consolidated net profit at Rs 522.14 crore from the net loss of Rs 2501.95 crore reported in the corresponding quarter of last year amid strong domestic demand offsetting weakness in Europe. It had announced a net loss of Rs 6511.16 crore for Q2 as a result of impairment charges. Meanwhile, Tata Steels' consolidated revenue from operations for December 2023 quarter declined 3% to Rs 55,311.9 crore as against Rs 57,083.56 crore reported in the similar quarter of last year. Sequentially, consolidated revenue from operations fell 0.7% from Rs 55,681.93 crore in the preceding quarter.

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 LKP Securities and 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.