Shares of Tata Steel (NSE: TATASTEEL) a leading global steel manufacturer from the house of Tata Group have witnessed a significant up move. On the 2nd of Feb, the stock price of Tata Steel saw an increase of 2.89%. In the last week stock price of Tata Steel rose by 3.70% after making an important swing low on the weekly timeframe.
The share price of Tata Steel are now trading near 52-week high of ₹153. From its current market price of ₹ 138, first price target of ₹153 looks reasonable which is almost 10% gain. The Steel giant which is known for its opening efficieny has an ROE of 11.98 %.
In the year 2020, Tata Steel was trading at Rs 24. Then, in August 2021, it reached its all-time high price of ₹153 in just one year’s time.
About NSE:TATA STEEL
Tata Steel is headquarted in Mumbai, and is a backbone of industrial prowess. As a key player in the Tata Group’s huge portfolio, the multinational steel-making company, was first started in the year 1907.
Tata Steel is Asia’s largest inaugural integrated private steel manufacturer. Its growth trajectory has been marked by significant milestones, including the establishment of its flagship steel plant in Jamshedpur, Jharkhand, over a century ago.
The company’s strategic expansions and acquisitions, such as the notable takeover of Corus in 2007, have fortified its standing on the global stage, making it a household name in the steel industry.
Why Share price of TATA STEEL is rising?
As investors, its important for us to know the exact reasons behind this rise in stock price of Tata Steel.
The company has earned more profit this year compared to the last year, which is a good sign for investors.
Its operations are running smoothly, showing through better EBITDA numbers, meaning the company is making solid money from its core business.
It’s also able to easily pay off its interest on loans, showing it’s sitting in a comfortable financial position.
Big insurance companies, as well as foreign and Indian investment giants, are putting their money in Tata Steel, showing they trust the company big time.
When these big players believe in Tata Steel, it naturally makes more people want to buy its shares, pushing the price up. So, in simple words, Tata Steel is doing well financially and that’s why its stock price is on the rise.
Tata Steel Dividend history
| EX DATE | RECORD DATE | DIVIDEND% | AMOUNT Rs. | TYPE |
|---|---|---|---|---|
| 22 Jun 2023 | 23 Jun 2023 | 360 | 3.6 | Final |
| 15 Jun 2022 | 17 Jun 2022 | 510 | 51 | Final |
| 17 Jun 2021 | 19 Jun 2021 | 250 | 25 | Final |
| 06 Aug 2020 | 08 Aug 2020 | 100 | 10 | Final |
| 04 Jul 2019 | 06 Jul 2019 | 130 | 13 | Final |
Tata Steel Swing Trading Forecast
| Tata Steel Swing Trading Forecast | Target Price (₹) |
|---|---|
| Forecast 1 | ₹145 |
| Forecast 2 | ₹160 |
| Forecast 3 | ₹172 |
| Forecast 4 | ₹181 |
| Forecast 5 | ₹215 |
Conclusion
]Tata Steel is one such company that will greatly benefit from India’s rising economy. As the Infrastructure in India develops, companies like Tata Steel will play an important role in the supply of raw materials to industries.
As we are at the end of the article, for long term investors, you can check Tata Steel’s forecast upto 2030.
