Tata Steel climbs after foreign broker reiterates 'Buy'

Tata Steel gained 1% to Rs 162.20 after a foreign brokerage reaffirmed its 'Buy' rating on the metal major, even as it trimmed the target price to Rs 200 from Rs 210.

The brokerage said it continues to prefer Tata Steel over peers in the metals and mining space. It noted that falling steel prices in India and Asia may squeeze sector margins in the near term, but remains optimistic about the companys medium-term outlook.

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.

The company reported 4.19 times increase in consolidated net profit to Rs 3,183 crore in Q2 FY26 from Rs 759 crore recorded in Q2 FY25. Revenue rose by 9% year-over-year (YoY) to Rs 58,689 crore during the quarter, primarily driven by higher deliveries in India and Netherlands despite drop in realisations.

Powered by Capital Market - Live News