Tata Steel shares: Should you buy the metal stock after surprise loss in Q3? (2024)

FAQs

Is it good to hold Tata Steel share? ›

Tata Steel stock has a one-year beta of 0.9, signaling low volatility during the period. In terms of technicals, the relative strength index (RSI) of Tata Steel stood at 64, signaling it's trading neither in the overbought nor in the oversold zone. Tata Steel shares have rallied 50% in a year and gained 15% in 2024.

Tata Steel share price is at ₹162.45 and is still trading between the key support and resistance levels of ₹160.7 and ₹163.85 on a daily timeframe. If it crosses the support of ₹160.7 then we can expect a further bearish movement. On the other hand if the price crosses 163.85 then it will lead to a bullish movement.

Tata Steel Q3 FY24 results: Revenue decreased by 3.1% YoY & profit at ₹513.37Cr. Tata Steel declared their Q3 FY24 results on 24 Jan, 2024. The topline decreased by 3.1% & the profit came at ₹513.37cr. It is noteworthy that Tata Steel had declared a loss of ₹2223.84cr in the previous fiscal year same period.

Tata Steel Outlook for the Week (April 22, 2024 – April 26, 2024) Tata Steel closed the previous week on a negative note losing 4.49%. Technically, Tata Steel share price will see immediate support at 158.03 and immediate resistance would be seen at 165.43.

Tata Steel Ltd, part of the iron & steel industry, broke out from 2.5 years of consolidation to hit a fresh record high in March 2024 and the price action suggests that bulls are here to stay. Short-term traders can look to buy the stock now for a possible target above 200 levels in the next 3-4 weeks, suggest experts.

There are several metal stocks which are best for long term investment like JSW Steel Limited, Jindal Stainless Limited, Tata Steel, and Steel Authority of India.

TATASTEEL(163.50) Tata steel is currently in positive trend. If you are holding long positions then continue to hold with daily closing stoploss of 162.97. Fresh short positions can be initiated if Tata steel closes below 162.97 levels.

Tata Steel Share Price Target 2024: Know what brokerage firm Jefferies said. Brokerage firm Jefferies has maintained a BUY rating on Tata Steel's stock while raising its target price to Rs 200 per share. The brokerage has a positive outlook for the stock and sees a potential upside of nearly 23 per cent for the stock.

NSE) has announced a dividend of ₹3.6 with an ex date of June 22, 2024 and a payment date of July 10, 2024.

Future Growth

Tata Steel is forecast to grow earnings and revenue by 113% and 4.4% per annum respectively. EPS is expected to grow by 92.4% per annum. Return on equity is forecast to be 14.5% in 3 years.

Is Tata Steel in loss or profit? ›

Last year, the company posted net loss of ₹2,502 crore

Tata Steel has reported ₹522 crore against net loss of ₹2,502 crore in the same period last year on the back of lower costs. Income was lower by 3 per cent at ₹55,540 crore (₹57,354 crore).

If we talk about the future stock price target for Tata Steel, then it can increase to ₹202.25 in the coming 1 year. If we forecast the next 5 years according to the current scenario, then its value can increase to ₹466.16, and in the next 10 years, it can increase to ₹790.15.

Shares of steel companies fell up to 3.4% on Monday after CLSA downgraded certain stocks with stretched valuations and weaker industry spreads compared to their nemesis. The Hong Kong-based brokerage downgraded JSW Steel and Tata Steel while reiterating its underperform rating for Jindal Steel & Power.

Compared to the current market price of 162.1 INR, Tata Steel Ltd is Undervalued by 3%.

The amalgamation is value-accretive and will also drive synergies through raw material security, centralised procurement, optimisation of inventories, reduced logistics costs, and better facility utilisation," Tata Steel said.

Tata Motors

It is the largest automobile manufacturer in India. The company produces many vehicles, including passenger cars, commercial vehicles, and military vehicles. It is also one of the top Tata shares to buy for long term on our all Tata share price list.