1:10 Stock Split, Highest Dividend Of Rs 51: Buy Tata Stock Under Rs 150, TP Rs 200-225: Brokerages

Brokerages have been bullish on Tata Steel shares and recommended buy call with maximum target price in the range of Rs 200-225. Current market price of Tata Steel Ltd share on BSE is Rs 141.55 per share. If you buy Tata Steel share at current market price of Rs 141.55, keeping the maximum target price range of Rs 225 in consideration, you can fetch potential return of 58.95%.

Tata Steel shares offered return of 30% in last 1-year and gained 175% in last 5-years. The company has a market capitalisation of Rs 1,76,703.13 crore. The weekly relative strength index also known as RSI of Tata Steel is in bullish mode at 44.6. RSI below 30 is considered oversold and above 70 overbought. Check details below:

Tata Steel Shares Performance & Return Over Years: The 52-week high price of Tata Steel shares on BSE is Rs 159.50 apiece and 52-week low price is Rs 101.65 apiece, respectively. Tata Steel shares rallied 7% in last 6-months, gave return of 15% in last 2-years, and offered gain of 92% in last 3-years. In last 10-years, Tata Steel stock gave return of 340%.

Tata Steel Block Deal: The latest bulk deal for Tata Steel Ltd took place on January 25, 2024 on NSE. Nearly 1,144,996 shares were traded at an average price of Rs 135.15. The clinet was Marshall Wace Investment Strategies Market Neutral Tops Fund.

Top Brokerages Recommend Buy: Axis Securities has recommended buy call to Tata Steel shares with target price in the range of Rs 167-177 per share. The analyst has suggested to keep the stop loss at Rs 143. According to the analyst, "Tata Steel has breached the multi-year resistance around Rs 150 level on the weekly chart, suggesting a continuation of the medium-term uptrend. The previous resistance level of Rs 150 is anticipated to now serve as support, adhering to the principle of polarity, thereby establishing a supportive zone for the stock's price action. The stock is trending within an upward sloping channel, recently finding support at the lower band and now heading towards the upper band."

Another brokerage firm Mehta Equities thinks Tata Steel shares to be soaring towards Rs 160 and assigned a target price in the range of Rs 200-225. According to the brokerage, "the overall outlook remains bullish with a strict stop loss placed at Rs 134 on a daily closing basis."

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 Financials: 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 Axis Securities and Mehta Equities. 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.