Tata Steel trades in green post China Covid relaxation: Check target price, experts' recommendation for investors

Tata Steel Share Price NSE: Shares of Tata Steel Limited, NSE: TATASTEEL, gained on Friday, December 30. The stock opened at Rs 112.90 apiece on NSE, up over a per cent from the previous close of Rs 111.75.  At 1:40 PM, the stock quoted Rs 113.05, up by 1.16 per cent on NSE.

China announcing to relax Covid relaxation has led to a focus on metal stocks ever since. Experts believe that development in China would positively impact steel demand and prices.

Brokerage firm Antique Stock Broking is bullish on the counter. The brokerage has given a 'buy' call on Tata Steel with a target price of Rs 139.

Meanwhile, Zee Business panellist and Global Capital Market's Himanshu Gupta recommended Tata Steel for a target of Rs 125/130 and asked investors to keep a stop loss at Rs 105.

He said that the stock has attractive risk-rewarding levels. The highest roll over has been witnessed in the counter after March 2022. Metal stocks have shown growth and are growing positive fundamentally, he added.

Also, read- DIVIDEND STOCKS: 8 highest dividend paying PSU stocks in 2022

The company recently announced that it will be supplying high-end seating systems and panelling for the Vande Bharat Express. Indian Railways had earlier selected Tata Steel's Fiber Reinforced Composites as material of choice for reducing weight of coaches to achieve speeds as high as 160 kmph.

Earlier on Wednesday, Tata Steel announced the acquisition of its wholly-owned subsidiary Tata Steel Advanced Materials. The company bought 1,15,45,667 equity shares worth Rs 10 each at an issue price of Rs 12.81 per share. The company now holds 66.75 per cent stake in Tata Steel Advanced Materials.

Tata Steel Share Price History

Tata Steel has delivered a positive return of around 30 per cent in the last 6 months. YTD, Tata Steel has yielded a negative return of a per cent. At current levels, the company has a market cap of Rs 1.38 lakh crore.

Click Here For Latest Updates On Stock Market | Zee Business Live