Tata Steel Share Price: Shares of Tata Steel, a Tata Group company, opened in green amid a rally in equity benchmark indices on Wednesday. While the Sensex climbed 242.49 points to 73,980.94, the Nifty advanced 63 points to 22,431 in early trade. The counter started the trading session at Rs 162.80 - a gain of over 1 per cent from the previous close of Rs 161.10 on the BSE. It went on to hit a day's high of Rs 163.40.

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The counter has gained after 2 days of consecutive fall and 4.21 per cent away from a 52-week high of Rs 169.75. The 52-week low of the stock is Rs 104.10. 

Tata Steel Share Price Target

Meanwhile, brokerage firm Jefferies has maintained a buy on Tata Steel, the world's tenth-largest steel producer. The brokerage firm has raised the target to Rs 200 from Rs 165 on the stock.

Tata Steel Q4 updates

Tata Steel India has reported a 6 per cent growth in deliveries to 19.90 million tonnes in FY24, supported by higher demand from retail, automotive, and railway segments. In India, the company produced 18.85 million tonnes (MT) of steel during the preceding 2022–23 financial year, Tata Steel said in a statement on Friday. Automotive and special products segment deliveries increased by 8 per cent in FY24 to 2.9 MT, surpassing the previous record in FY23.

Branded products and retail segment deliveries increased by 11 per cent in FY24 to 6.5 MT. The industrial products & projects segment deliveries rose 6 per cent to 7.7 MT. Among sub-segments, engineering registered the best-ever annual sales, led by pre-engineered buildings and railways, among others, the company said.