Tata Stock Hits Record High On Inking Pact With UK's National Grid, Buy For PT Rs 200

Tata Steel Ltd shares hit Rs 175.20 per share price for the first time on May 21 soon after the metal giant inked a pact with UK-based National Grid Plc. for its Port Talbot project. Last trading price of Tata Steel share on BSE today is Rs 174.30 per share with intraday gain of 3.81%. Tata Steel today signed a connection offer with the British electric system operator to build infrastructure capable of powering the 3.2 million-tonne electric arc furnace at Port Talbot by the end of 2027, as reported by Bloomberg on Monday.

Tata Steel shares opened at Rs 168.05 per share, touched day's high of Rs 175.20 per share, and day's low of Rs 168.05 per share, respectively. Tata Steel shares also traded its fresh 52-week high on BSE and witnessed spurt in volume by more than 2.39 times. Tata Steel has a market capitalisation of Rs 2,17, 586.41 crore. Life Insurance Corporation of India (LIC) has an attractive 7.29% stake in Tata Steel with 90,97,67,778 shares. More details below:

Tata Steel Share Performance: The 52-week high price of Tata Steel share on BSE is Rs 175.20 per share (as on 21/05/2024), also its lifetime high and 52-week low price is Rs 104.30 per share (as on 25/05/2023). Tata Steel shares rallied 25% year-to-date, soared 38% in last 6-months, gained 67% in last 1-year, and offered attractive return of 49% last 2-years. In last 5-years, Tata Steel shares surged 268%.

Analysts Views On Tata Steel: According to ICICI Securities, "As per our analysis, the link between steel prices of India and China has gone down post Covid-19 due to supply-chain issues, localisation of steel industry and strengthening domestic consumption in India as compared to decline in China." The brokerage firm upgraded target price of Tata Steel from "Add" to "Buy" with fresh target price of Rs 200 now from Rs 150 earlier.

Meanwhile, according to NDTV Profit, a total of 42 analysts tracking Tata Steel shares, 17 recommended buy call, 18 suggested hold call, and remaining 7 assigned sell call to Tata Steel shares.

Tata Steel Bonus History: Tata Steel declared 1 bonus share since August 11, 2004. The metal stocks' last bonus was announced in the ratio 1:2 and ex-bonus date was set as August 11, 2004.

Tata Steel Stock Split History: Tata Steel split the face value once since July 28, 2022. Tata Steel split the face value of its shares from Rs 10 to Re 1 in 2022. Tata Steel share quoted on an ex-split as on July 28, 2022.

About: Tata Steel was established in India as Asia's first integrated private steel company in 1907. With this, italso 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 the company registered a turnover of INR 1,37,030 crore in FY23, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of ICICI Securities. 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.