Stock Market

Tata Steel: This Tata Group stock can give 50% return, has doubled money this year, why the brokerage increased the target

Metal stock Tata Steel has proved to be a multibagger for investors. So far this year, this share of Tata Group has given a return of 100 percent. The returns in 1 year have been around 170 per cent.

Tata Steel Stock Price: Today, a mixed trend has been seen in Tata Steel, the metal stock of the Tata Group. In intraday, the stock strengthened by Rs 1340, has come down to a price of Rs 1277. On Thursday, Tata Steel presented its quarterly figures for the September quarter. The profit of the company has increased by 7.5 times to Rs 12747.70 crore. After the quarterly results, the veteran brokerage house is looking bullish on the stock. Brokerage house CLSA and brokerage house Macquarie have given investment advice in the stock. This stock has proved to be a multibagger for the investors.

How much return can I get

Brokerage house CLSA has given buy advice in Tata Steel and has set a target of Rs 1950 for the stock. The current price of the share is around Rs 1280. In this sense, more than 50 percent return can be given in the stock. According to the report of the brokerage house, the company has reduced its debt. The company’s performance in the European markets has been excellent. Asian steel prices are expected to remain range bound, but steel prices in India and Europe are likely to rise. However, EBITDA in Q2 has been slightly weaker than expected. On the other hand, brokerage house Macquarie has given outperform rating in the stock and has set the target to Rs 1870. The company says that despite the weak demand, the performance has been better.

This year has doubled the money

Shares of Tata Steel are among those who have doubled the money of investors so far this year. The returns of Tata Steel so far this year have been 100%. During this, the share price has increased from Rs 643 to close to Rs 1300. At the same time, the 1-year return in the stock has been 170 percent. The stock has given a return of around 250 per cent in 5 years.

7.5x profit in Q2

Tata Steel’s profit has increased nearly 7.5 times in the September quarter. During this, the company made a profit of Rs 12747.70 crore. Whereas in the same quarter a year ago, the company’s profit was Rs 1665 crore. The company’s income has increased to close to Rs 60,554 crore in the September quarter, which was close to Rs 39,158 crore in the same quarter a year ago. However, the total expenditure of the company increased to Rs 47,135.28 crore.


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