Tata Steel share price: Amid the historic rise in the stock market last Friday, the shares of Tata Group were also in great demand. There was also a competition to buy the shares of Tata’s company Tata Steel. On the last trading day of the week, the stock rose more than 2 percent to Rs 153.25. At the end of trading, the share price was at Rs 152.05 with a gain of 1.64%. On June 18, the stock touched the level of Rs 184.60. This is also the 52-week high level of the stock. At the same time, the 52-week low level of the stock is Rs 114.25. This price was in November 2023. Experts seem bullish about Tata’s stock.
What do experts say
Brokerage Macquarie has given an outperformance tag to Tata Steel’s stock. Along with this, the target price of the stock has also been increased. The target price of Tata Steel’s stock is Rs 171. Earlier the target of the stock was Rs 162. Meanwhile, Tata Steel has commissioned India’s largest blast furnace at its Kalinganagar plant. This will help increase the production capacity of the plant from 3 million tonnes per annum to 8 million tonnes per annum. The blast furnace is a key component of an integrated steel manufacturing plant which is necessary to produce hot metal even at temperatures up to 1500 Celsius.
Beginning in 2018
Let us tell you that in November 2018, Tata Steel started the second phase of Rs 27,000 crore for the expansion of its Kalinganagar project in Odisha. The company said that Odisha has become Tata Steel’s largest investment destination in India with an investment of more than Rs 1 lakh crore in the last 10 years. Tata Steel said that this furnace with a capacity of 5,870 cubic meters is equipped with an eco-friendly design to optimize the steelmaking process.
