Tata Steel Share Price: Tata Steel is one of the most popular companies of the Tata Group, and its stock has been in focus recently. On Thursday, the share price of Tata Steel looked a bit slow in the market, but during the trading session, it reached very close to its 52-week high.
The price went up to Rs 169.20 before finally closing at Rs 166. Earlier, on 30 September 2024, the stock had touched Rs 170.20, which is still its 52-week high. This shows that the stock is once again moving close to the top levels seen in the past year.
Tata Steel Share Price Performance
In the last week alone, Tata Steel shares have gained more than 8 percent. This year too, the stock has given strong returns, with a jump of almost 22 percent. Investors are finding confidence in the stock because it is trading above all major moving averages, like the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and even the 200-day average. This type of performance usually signals that the stock is in a bullish trend, meaning it could see more positive movement ahead.
Experts’ Target Price
Experts also believe that Tata Steel is trading at an important level right now. According to market experts, the share is near its resistance zone of Rs 169 to Rs 170, which has earlier acted as a barrier since June. If it breaks past this level and sustains there, the stock may have room to move higher.
On the downside, immediate support levels are around Rs 160 to Rs 162, and stronger demand may come if the price goes near Rs 155. This means that even if the stock falls, buyers are likely to step in at those levels.
Another expert has suggested that if Tata Steel manages to close above Rs 170, then the stock could see a rally towards Rs 185 and even Rs 195 in the short to medium term. However, traders are advised to keep a stop-loss around Rs 158, which is a level to control risk if the price does not move as expected. This way, investors can manage their money safely while also trying to take advantage of any upward move in the stock.
Also Read: Tata Steel Ltd Share Price Target
Tata Steel Q1 Results
Apart from the price action, the company’s financial performance has also been in the news. In Q1 FY25, Tata Steel reported a net profit of Rs 2,007.36 crore, which is more than double compared to Rs 918.57 crore in the same quarter last year. However, the total income of the company in the quarter stood at Rs 53,466.79 crore, which is slightly lower compared to Rs 55,031 crore in the same quarter last year.
Overall, Tata Steel continues to attract attention in the stock market with its strong gains, bullish trend, and improved profit figures. Investors are watching closely to see if it can break above its resistance and move toward higher targets in the coming months.
Disclaimer: All the information provided in this article is for educational purposes only. DateUpdateGo always advises seeking guidance from a certified financial advisor before making any investment-related decisions.
