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Brokerage Firm Recommends Investors To Buy Tata Steel Shares – News18

Curated By: Business Desk

Last Updated: November 08, 2023, 12:24 IST

Tata Steel incurred a loss of Rs 6,511 crore in the July-September quarter.

It is worth noting, however, that Tata Steel has experienced some setbacks in terms of investor returns in the recent past. In just the last month, the stock has dipped by 1%.

The Tata Group is one of the largest conglomerates in the country, giving services to people of all economic strata. In the realm of the stock market, this company also proves to be a sound choice for investors. Reports indicate that the company has consistently yielded substantial profits for its shareholders, delivering favourable returns on their shares year after year.

Reports suggest that investing in Tata Group shares currently can be very profitable. A reputable domestic brokerage firm has weighed in on the matter, providing guidance on the shares of this conglomerate. It is claimed that this stock has the potential to witness a surge of up to 13 per cent from its current valuation.

According to reports from MoneyControl, the brokerage firm Prabhudas Lilladher Rathi has recommended considering Tata Steel shares, as outlined in their research report for November. The firm is optimistic about a notable surge in the stock’s value from its present standing. It is worth noting, however, that Tata Steel has experienced some setbacks in terms of investor returns in the recent past. In just the last month, the stock has dipped by 1 per cent.

Recently, Tata Steel released its results for the second quarter of this financial year. The report indicated a loss of Rs 6,511 crore in the July-September quarter. While the stock did experience a slight decline following this announcement, it was relatively modest. Apparently, the company incurred this loss due to challenges faced by its European operations.

Prabhudas Liladhar Rathi also highlighted Tata Steel’s revenue in their report. Anticipated increases are foreseen in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation), PAT (Profit After Tax) and CAGR (Compound Annual Growth Rate).

On November 8 at 11.46 a.m., the stock was trading at Rs 118.85. It is projected to reach Rs 138 by September 2025. According to previous reports by the brokerage firm, they had set a target of Rs 144 for Tata Steel shares.

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Amit Ghosh
Amit Ghoshhttps://serpways.com
MYSELF AMIT GOSH. I AM A PROFESSIONAL BLOGGER AND RESEARCHER.
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