JSW Steel hit all-time highs and Tata Steel a 15-month peak as metals gained 20% in six months, driven by global price recovery, US rate-cut hopes and GST-driven demand
Boosted by operational normalisation post-furnace relining, Tata Steel India posted higher Q2 output and record retail deliveries amid strong domestic demand
Steel major Tata Steel on Thursday said its crude steel production in India rose by seven per cent to 5.67 million tonnes in the second quarter of the current fiscal, primarily aided by normalisation of operations post the completion of relining of a blast furnace at Jamshedpur, in Jharkhand. In a regulatory filing, the company said that in 2QFY26, Tata Steel India's crude steel production was 5.67 million tonnes. Production was up eight per cent on a quarter-on-quarter basis and seven per cent on a year-on-year basis. Tata Steel India sales during the second quarter of this financial year rose to 5.56 MT, over 5.11 MT in the year-ago period, the filing said. "Tata Steel India's deliveries for the quarter stood at 5.56 million tonnes. Domestic deliveries grew... aided by improved production and stable demand across market segments despite the seasonal rains," the filing said. The company said that it continues to strengthen its product portfolio through new facilities and customer
In the Nifty Metal index, Hindustan Copper rallied as high as 6.37 per cent, while Hindustan Zinc and Tata Steel rose 4.9 per cent and 3.4 per cent, respectively
JP Morgan has raised Tata Steel's share price target to ₹195 from ₹180, implying an upside potential of 14 per cent from current levels.
Steel stocks outlook: Moody's anticipate that steel demand in India will grow at a 5-7% CAGR until 2030, fueled by infrastructure spending, construction projects and expansion in industrial production
Tata Steel Nederland signs non-binding pact with Dutch govt for up to €2 bn to cut emissions at IJmuiden, with plans for direct reduction and electric arc furnace transition
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Regulators have threatened fines and the closing of one of the plant's coke facilities if Tata Steel fails to significantly reduce toxic emissions this year
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Tata Steel shares hit a fresh 52-week high of ₹174.35 today, trading close to its all-time high level of ₹184.60, touched on June 18, 2024.
Chandan Taparia, head of derivatives & technicals, wealth management at Motilal Oswal Financial Services, has recommended buying shares of SBI, Tata Steel, and Samvardhana Motherson
In the past one week, the stock zoomed 46 per cent, as against a marginal 0.12 per cent rise in the benchmark index
GAIL (India) Ltd has entered into an agreement with Tata Steel for supply of natural gas to the steel major's Combi-Mill plant in Jamshedpur, a statement said. As per the agreement, GAIL will supply 31,000 standard cubic metres per day (SCMD) of natural gas until March 2026, with volumes scaling up to 43,000 SCMD thereafter, it said. Supply to Tata Steel's Combi-Mill plant under the City Gas Distribution project being implemented in East Singhbhum, will commence by the end of this September. This agreement represents the largest industrial customer onboarding since the inception of GAIL's City Gas Distribution GAs located in Varanasi, Patna, Ranchi, East Singhbhum, Cuttack and Kordha, the company said. To connect the Combi-Mill plant, GAIL has commissioned a 23-km pipeline route, it said. General Manager and GA in-charge of GAIL, Gauri Shankar Mishra, stated that the collaboration with Tata Steel demonstrates the company's dedication to providing cost-effective, environmentally ..
Tata Steel has given a breakout above its resistance zone, confirming a bullish trend, while ABREL has given a breakout from its recent range‐bound movement, signaling the start of an uptrend
Despite the soft quarter, JM Financial continues to highlight Tata Steel, JSPL, and Hindalco as top picks in the metals space.
Outbound FDI, expressed as a financial commitment, comprises three components: equity, loans, and guarantees
Technical charts suggests that steel stocks are favourably placed on the charts, and could see a multi-month rally with a potential upside up to 24 per cent from here.
Steel stocks in demand: In past five trading days, the BSE Metal index outperformed the market by surging 6 per cent, as against 0.98 per cent rise in BSE Sensex.
Metal stocks were in demand on Wednesday amid buzz that the government may reallocate non-operational iron ore mines held by SAIL and OMC.